ECB ‘studies’ ways of cutting Anglo bill

THE European Central Bank is studying ways to reduce Ireland’s €3.1bn-a-year bill to pay off €30bn in promissory notes used to bail out Anglo Irish Bank, now the Irish Bank Resolution Corporation.

Yesterday ECB president Mario Draghi said there are “certain fragilities that need to be taken care of” with regard to Ireland.

The troika of the International Monetary Fund, the EU and ECB is nearing a consensus on how to deal with Ireland’s request to ease the debt burden.