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ECB declines to say if it considered triggering rescue plan for Ireland
Date 28/09/2010 14:09  Author webmaster  Hits 865  Language Global
28 SEP 2010

By Arthur Beesley ¦ Irish Times

THE EUROPEAN Central Bank (ECB) declined to comment yesterday on a report in a leading German business newspaper that said the bank considered activating a rescue scheme for Ireland but decided against going down that road.

The report in the daily Handelsblatt also quoted anonymous sources as saying some euro zone governments had been told that they should be ready themselves to tap capital markets on Ireland’s behalf. “In the end, the decision fell against the plan,” the paper said.

A spokesman for the Department of Finance dismissed the report, saying it had no basis whatever in fact.

The report came two days after the French daily Le Monde said in an editorial comment that Dublin might have to seek assistance “in the next weeks” from the EU/IMF rescue scheme for distressed euro countries. However, a news item in Le Monde said an intervention was not in preparation.

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