Consolidating everything, the only interest cost associated with the outstanding ELA debts stem from the fact that the Central Bank incurred a large Intra-Eurosystem liability via the TARGET2 system when the IBRC depositors and bond investors were paid off and moved their money abroad.

FORBES: How Much Would Ireland Benefit from Replacing the Promissory Notes with a Long-Term Bond?

The Australian bank expects the recovery in exports to continue in 2010 supported by resilient North American and Intra-Asian volume.

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