The ECB deal can probably be justified. But the drastic way it achieved it cannot.
Much remains unknown despite recent interviews with all the main players involved in Ireland’s EU-International Monetary Fund bailout that cast new light on the extraordinary events of last November. Among the many questions and concerns that linger are issues surrounding the way in which the European Central Bank (ECB) acted and its lack of accountability more generally.
Since the euro zone crisis erupted last year, the power of the ECB, and the manner in which it has wielded that power, has been striking. Although it was well-known it had taken a leading role in the sudden precipitation of the Irish bailout in November, none of the actors involved had been willing to say as much on the record until Brian Lenihan was interviewed for last Sunday’s BBC documentary, Bailout Boys Go to Dublin.
Πηγή: The Irish Times