Government banks on high talk and risky gamble paying off

The 23 important men of the European Central Bank’s Governing Council will sit down together four times between now and Mar 31.

That is the date Ireland is due to pay €3.1bn to the former Anglo Irish Bank, which in turn uses it to pay back the Central Bank, which deducts it from the amount it owes the ECB.

What those men agree to over the next four meetings will have a huge impact on future budgets and Ireland’s ability to emerge from the bailout programme and get the country on a better financial footing — easing the austerity burden for all.