Daily: On the EU’s retroactively recapping Ireland’s banks and Lagarde’s challenges to orthodoxy

Yesterday I wrote a lot about this topic for Gold subscribers, asking "Will Merkel grant ‘austerity model’ Ireland retroactive bank recap mutualisation?" This post gives a full account of the European bank recap issue, so I won't re-hash any of that here. Briefly, the issue is whether the Irish government will get debt relief for having bailed out its banks or whether they will be saddled with the consequences of that bailout for years to come.  The article below from the Telegraph telling us th...

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