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January 22, 2013

Ireland Deserves a Bailout

Wall Street Journal, Wall Street Journal

AP Photo

There are strong reasons why Ireland deserves a carve-out if the bank bailout fund doesn't end up authorized to address pre-existing problems like Ireland's. In Ireland's case, unlike Spain's, the primary beneficiaries of bank rescue funds weren't local creditors and depositors. Many of them were themselves privately owned financial institutions elsewhere in the EU.

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TAGGED: Mario Draghi, Europe, Eurozone, Ireland

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