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EU bailout could see us short-changed for second time in 10 years

Richard Curran


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Ajai Chopra (left), then a deputy director at the IMF, on his way to the Central Bank HQ in 2010. Photo: Frank Mc Grath

Ajai Chopra (left), then a deputy director at the IMF, on his way to the Central Bank HQ in 2010. Photo: Frank Mc Grath

Ajai Chopra (left), then a deputy director at the IMF, on his way to the Central Bank HQ in 2010. Photo: Frank Mc Grath

It is a tale of two EU bailouts. When Ireland was hit by the last banking crash and recession we were told we could not default on bank bond holders. No haircuts on senior debt. Instead, the EU would be available to lend us billions of euro in a bailout to get through the crisis.

These would be loans. There was no free money.


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