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ECB ‘bounced’ Ireland into deal

Minister for Justice Dermot Ahern has said officials from the European Central Bank tried to force Ireland into seeking a bailout before it had even been discussed at Cabinet.

Mr Ahern said “quite incredible pressure” was being applied to the country ahead of the IMF/EU meetings last week and the same thing is happening to Portugal now.

“There were people from outside this country who were trying to bounce us in, as a sovereign state, into making an application – throwing in the towel – before we had even considered it as a Government,” he told RTÉ Radio.

“If you notice they are doing the same with Portugal now because the fear [is] that Portugal will now cause contagion.”

Irish Times

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May
24
Today’s Global
Market Events
8:30am

CAD
Corporate Profits q/q
9.0%
USD
Core Durable Goods Orders m/m
1.1% vs. -0.8%
USD
Unemployment Claims
372K vs. 370K
USD
Durable Goods Orders m/m
0.5% vs. -4.0%
9:00am

EUR
ECB President Draghi Speaks
EUR
Belgium NBB Business Climate
-10.6 vs. -10.7
10:30am

USD
FOMC Member Dudley Speaks
USD
Natural Gas Storage
77B vs. 61B
1:00pm

USD
FOMC Member Dudley Speaks
3:00pm

USD
Treasury Sec Geithner Speaks
7:30pm

JPY
Tokyo Core CPI y/y
-0.5% vs. -0.5%
JPY
National Core CPI y/y
0.1% vs. 0.2%