Letter shows ECB threat ahead of Ireland bailout

On 6 November 2014, the European Central Bank formally released a letter showing that the eurozone bank threatened to pull emergency bank funding if Ireland did not enter a bailout and undertake austerity measures in 2010.

The letter was published following a call from the European Ombudsman for the ECB's Governing Council to do it. The Governing Council also decided to disclose a further three letters that were part of correspondence between the ECB and the Irish authorities in the run-up to the official application of Ireland for support under an EU/IMF adjustment programme.

• Primary Source

ESO: Background information: EU 'bullied' Ireland into bailout, former Barroso aide says http://www.europeansources.info/record/eu-bullied-ireland-into-bailout-former-barroso-aide-says/

ECB: Press: Irish letters http://www.ecb.europa.eu/press/html/irish-letters.en.html

BBC News, 06.11.14: ECB publishes secret Irish bailout letters http://www.bbc.co.uk/news/business-29942060

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