Sunday, April 03, 2011 9:29 PM

Ireland Caves in to Trichet; Backs of Irish Taxpayers Will be Broken

Costs to bail out bondholders of Irish banks has now soared to $142 billion. Worse yet, the new Irish government completely caved in to the EU and ECB and will attempt to balance the entire amount on the backs of taxpayers.

Please consider Ireland Bows to Trichet on Bondholders as Bank Rescue Reaches $142 Billion http://www.bloomberg.com/news/2011-04-0 ... llion.html

Ireland yielded to the European Central Bank to protect bondholders even as its bailout bill for the region’s worst banking crisis moved to as much as 100 billion euros ($142 billion) after stress tests.

The ECB in Frankfurt was “solidly opposedâ€