Sorry for repeating the title but here we have Monday's New York Times --
The European Central Bank’s recent decision to let Ireland liquidate the successor bank to Anglo Irish in a way that wiped out remaining bondholders was in the same vein [as Dutch wipe out of SNS Reaal subordinated bondholders]. That move was flagged in advance, though, and the amount lost by investors was negligible compared to the SNS takeover.
There's a risk that people reading statements of ECB officials and the business pages could get the impression that Ireland was tough on bank bondholders.
It wasn't.
The European Central Bank’s recent decision to let Ireland liquidate the successor bank to Anglo Irish in a way that wiped out remaining bondholders was in the same vein [as Dutch wipe out of SNS Reaal subordinated bondholders]. That move was flagged in advance, though, and the amount lost by investors was negligible compared to the SNS takeover.
There's a risk that people reading statements of ECB officials and the business pages could get the impression that Ireland was tough on bank bondholders.
It wasn't.