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Promissory Notes deal with ECB will require "special financial legislation"

Bullrush · 2013-02-06 16:30:01

http://www.businesspost.ie/#!story/Comment/Cliff+Taylor/Special+laws+may+be+needed+for+prom+note+deal/id/19410615-5218-5112-7d96-b77820462440 So this looks good, right? Article says "the promissory note ... would be replaced with a long-term government bond".

Comments

#302 17-02-2013 5:53pm

GCU Flexible Demeanour

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oscarBravo wrote: »

That sounded like a rhetorical device to me.

Hmm, I don't know if I'd agree. He sounds like he's trying to pass it off with humour. But I think he has clearly acknowledged that legal advice given to him stated quite clearly that the promissory notes were illegal. He has also indicated that the legal basis of the new arrangment isn't cast-iron. I'd say it gives a bit of insight into what "noted" means.

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#303 18-02-2013 7:14pm

_Kaiser_

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Draghi was picking his words carefully on the News there tonight about whether or not this deal breaches EU rules and potential legal action if it does, deferring any decision until later in the year...

Hmm, what are the odds that it becomes an issue after the local/EU elections?

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