Peter Mathews | Contributing Writer On 28th November 2010 Ireland signed up to the Troika 3 year Programme of loans assistance. At the time the 6 Irish banks owed a whopping €135bn to the European Central Bank (ECB). This was an eye-watering ECB exposure to 6 Irish banks in a peripheral country with a population of only 4.5m people, with an open economy and a Gross National Product (GNP) of only around the same amount of €135bn.  The rapidly mounting level of ECB exposure up to a whopping €135bn level was the alarming reason that brought the ECB, alarm bells ringing, post haste, to Ireland. … Continue reading Seeking Debt Write-Downs Is The Only Way To Economic Recovery