The Euro Crisis: Refinancing the Irish bailout – the options post the June 2012 Summit


Written by Pat McArdle

05 September 2012

“Refinancing the Irish Bailout – The options post the June 2012 Summit” considers Ireland’s financial situation and how to improve it. In it, Pat McArdle presents a comprehensive consideration of Ireland’s budgetary situation arising out of the crisis and the possible means of reducing Ireland’s debt burden. Issues dealt with by the paper include the composition of Ireland’s bank debt, the significance of the June 2012 Euro Area Summit statement for Ireland and the possibility of a deal on the promissory notes. Mr McArdle argues that every approach to dealing with the problems of Ireland’s bank debt has serious drawbacks and faces significant obstacles, however, he notes that if any of these approaches work it will significantly improve Ireland’s debt position.