Government silent on IBRC liquidation

Project Red looks set to remain shrouded in mystery as the Government followed in the footsteps of the European Central Bank (ECB) in refusing to release details of the IBRC liquidation.

Project Red swung into action in a panicked midnight sitting of the Dáil with the laws to liquidate the former Anglo Irish Bank being signed into law in the early hours of the morning.

However, the details of how the plan came into being and the critical correspondence between the European Central Bank and the Department of Finance are unlikely to be released any time soon as the Government claim to do so would damage Ireland’s economic interests.