ECB Hack Mersch: An Ireland Bailout Will Help Us Stop Handing Out Bailouts

Yes, he actually said that.


Ireland's acceptance of a EU/IMF bailout will allow the European Central Bank to press on with gradually phasing out its crisis support measures, ECB Governing Council member Yves Mersch said on Wednesday.

"We only can welcome that now that we have a programme that will lead to stability in Ireland, this will allow us to continue on our gradual and prudent exit strategy," Mersch, who also heads the Luxembourg central bank, said in an interview with CNBC.

"I think I would not take issue with the expectations that are presently in the market," he added.

For a great laugh, watch Mersch squirm as he explains the strength of the euro and his expectations for the future.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


All of these plans are awesome as long as the people living in the lands aren't included. I guess it brings stability to the Euro, I don't know, but it certainly threatens stability on the Emerald Isle with a significant history of dealing with militarily superior overlords.

Regardless, sounds like an Ivory Tower hack to me.