ECB Says Aid Program For Irish Banks ‘Just A Rumour’

Reports that the European Central Bank [ECB] is preparing new liquidity measures to help Irish banks “are just rumors,” ECB Executive Board member Juergen Stark said in an interview with German daily Frankfurter Allgemeine Zeitung, to be published Wednesday.

“This is the responsibility of the Irish state and not of the ECB,” Stark asserted.

According to weekend reports in the WSJ and the Financial Times, a new facility may be introduced to replace the use of so-called Emergency Liquidity Assistance (ELA). – iMarketNews

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