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Wed 02 Feb 2011Rehn rejects prospect of bondholder 'haircuts'
EURO ZONE finance ministers have eliminated the prospect of any move to impose losses on senior bondholders in Ireland’s banks, economics commissioner Olli Rehn said.
Although Fine Gael and Labour each say they would compel the highest-ranked bank bondholders to bear “haircuts” on their investment if they won the election, the commissioner said Ireland’s European sponsors see no possibility to pursue that path.
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