So now what, as ECB give two fingers to Ireland?

Well, I hate to say it but I told you so, many times.
The ECB have basically told the Irish government to PFO, in it’s desire to seek a reduction in the cost of the wretched Anglo prom notes.

http://www.reuters.com/article/2013/01/26/us-ecb-ireland-idUSBRE90P0DT20130126

It’s a straightforward no. No reduction in terms, no reduction in interest rates.

A smart government would respond with a statement that they were NOT going to pay, and defy the ECB. Instead a spokesperson for the dept declined to comment.
Although I think it’s dangerous perhaps s referendum
That asks if we should leave the euro in the absence of a deal might sharpen the debate

Whats so hard about saying “Dear Mr Draghi, NO”

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