| Author (Person) | Brown, John Murray |
|---|---|
| Series Title | Financial Times |
| Series Details | 8.3.11 |
| Publication Date | 08/03/2011 |
| Content Type | News |
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Report of a speech by John Bruton, Prime Minister of Ireland, 1994-1997 at the London School of Economics, 7 March 2011. He said that the European Central Bank was guilty of a 'major failure of supervision' in not restraining bank lenders from fuelling the property bubble in Ireland. Burden-sharing – the notion that European banks and bondholders should share with Irish taxpayers the cost of restructuring Ireland’s broken financial system – was a key demand of the new Irish government in February 2011 as it sought easier terms on a €85bn bail-out provided by the European Union and International Monetary Fund. A joint coalition programme, agreed by Fine Gael and Labour in March 2011, said the new government 'secured a strong mandate from the Irish electorate to renegotiate a more credible package that is better for both Ireland and Europe'. |
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| Countries / Regions | Europe, Ireland |
