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ELA, Promissory Notes and All That: The Fiscal Costs of Anglo Irish Bank

2012; Amsterdam University Press; Volume: 43; Issue: 4 Linguagem: Inglês

0012-9984

Karl Whelan,

Fiscal Policies and Political Economy

This paper describes the cost to the Irish state of its bailout of the Irish Bank Resolution Corporation (IBRC). The paper discusses the IBRC’s balance sheet, its ELA debts to the Central Bank of Ireland and the promissory notes provided to it by the Irish government to pay off its liabilities. Options for reducing these costs are discussed.