Playing a high-stakes game of poker

In what looks increasingly like a game of high-stakes poker, the Government has finally liquidated Ireland’s toxic bank in a bid to secure agreement from the ECB on a restructuring deal on the €31bn in promissory notes.

But so far, Frankfurt has not said either yea or nay.

Both Coalition parties had publicly committed to not paying the €3.1bn promissory note at the end of March. It now looks as if they have kept their promise to the electorate.