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Sat 09 Sep 2009ECB funding 25% of Irish deficit indirectly, data reveal
THE EUROPEAN Central Bank (ECB) is indirectly funding about a quarter of the Irish Government deficit, according to Central Bank figures.
The data shows that Irish banks have availed of ECB support to purchase almost €7 billion worth of Irish Government bonds since last November, when the National Treasury Management Agency (NTMA) stepped up its borrowing programme.
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