sent into us to day
This information just released shows that Brian Lenihan was coerced into accepting the Troika deal……. he did not know what he was doing … there was no script….. The letter mentioned is attached ……
Irish Times, Dublin, 24th. October 2012.
The Department of Finance has released a letter written in November 2010 by the late minister for finance Brian Lenihan in which he requested financial assistance for Ireland from the EU-ECB-IMF troika.
In the letter, Mr Lenihan formally applied on behalf of the Irish authorities for financial assistance “in the context of a joint EU-IMF programme”.
A copy of Mr Lenihan’s letter was released to journalist Gavin Sheridan of thestory.ie following a freedom of information request to the Department of Finance.
“The external assistance sought is made under the terms of the European Financial Stabilisation Mechanism, the European Financial Stability Facility and the IMF assistance programme,” Mr Lenihan wrote in the letter, dated November 21st, 2010.
“I welcome the statement by the Eurogroup and Ecofin ministers which concurred with the EU Commission and the ECB that providing assistance to Ireland is warranted to safeguard financial stability in the EU and in the euro area.
“The Irish authorities will co-operate fully in the preparation of the joint EU-IMF programme of assistance to the Irish State that will now be required to be developed,” Mr Lenihan wrote.
The Irish Times revealed last month that three letters from the then president of the European Central Bank Jean-Claude Trichet to Mr Lenihan culminated in an insistence that Ireland should apply for a bailout or risk the country’s banks being cut off from access to support.
Mr Trichet made it clear to Mr Lenihan the governing council of the ECB was becoming fearful that the whole European banking system was being put at risk by the drain on its resources coming from the Irish banks.