Central Bank steps up its cash support to Irish banks financed by institution printing own money

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Headline: Central Bank steps up its cash support to Irish banks financed by institution printing own money

EMERGENCY lending from the ECB to banks in Ireland fell in December, the first decline since January 2010, but only because the Irish Central Bank stepped up its help to banks.

The Irish Independent learnt last night that the Central Bank of Ireland is financing €51bn of an emergency loan programme by printing its own money.

Source: independent.ie

From Bob