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ELA, Promissory Notes and All That:The Fiscal Costs of Anglo Irish Bank

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  • KARL WHELAN

    (University College Dublin)

Abstract

This paper describes the cost to the Irish state of its bailout of the Irish Bank Resolution Corporation (IBRC). The paper discusses the IBRC’s balance sheet, its ELA debts to the Central Bank of Ireland and the promissory notes provided to it by the Irish government to pay off its liabilities. Options for reducing these costs are discussed.

Suggested Citation

  • Karl Whelan, 2012. "ELA, Promissory Notes and All That:The Fiscal Costs of Anglo Irish Bank," The Economic and Social Review, Economic and Social Studies, vol. 43(4), pages 653-673.
  • Handle: RePEc:eso:journl:v:43:y:2012:i:4:p:653-673
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    File URL: http://www.esr.ie/vol%2043_4/x4%20Whelan%20PP.pdf
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    References listed on IDEAS

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    1. Cussen, Mary & Lucey, Mick, 2011. "Treatment of Special Bank Interventions in Irish Government Statistics," Quarterly Bulletin Articles, Central Bank of Ireland, pages 78-92, October.
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    Cited by:

    1. Sebastian Dellepiane & Niamh Hardiman, 2013. "The politics of fiscal effort in Spain and Ireland: Market credibility versus political legitimacy," Working Papers 201321, Geary Institute, University College Dublin.
    2. Jean Pisani-Ferry & André Sapir & Guntram B. Wolff, . "EU-IMF assistance to euro area countries: an early assessment," Blueprints, Bruegel, number 779.
    3. Gregory Connor & Thomas Flavin & Brian O'Kelly, 2015. "Restructuring and Recovery of the Irish Financial Sector: An Economic Case History V2," Economics, Finance and Accounting Department Working Paper Series n259-15.pdf, Department of Economics, Finance and Accounting, National University of Ireland - Maynooth.
    4. Dübel, Achim, 2013. "The capital structure of banks and practice of bank restructuring," CFS Working Paper Series 2013/04, Center for Financial Studies (CFS).
    5. Whelan, Karl, 2014. "Ireland’s Economic Crisis: The Good, the Bad and the Ugly," Journal of Macroeconomics, Elsevier, vol. 39(PB), pages 424-440.
    6. Jörg Bibow, 2015. "The euro's savior? Assessing the ECB's crisis management performance and potential for crisis resolution," IMK Studies 42-2015, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.

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