Eyes open on bailout after ECB letter release

Letters tell us more about the bailout story, writes Europe Correspondent Ann Cahill

FOUR letters released by the ECB yesterday have added another piece to the jigsaw puzzle of exactly how and why Ireland suffered the biggest banking collapse and biggest bank bailout of bondholders by taxpayers in modern history.

The letters, and especially the final letter which had not been credibly revealed, in some way look tame now, setting out a set of circumstances that have become very much part of the bailout story.