Brussels, 18/03/2011 (Agence Europe) - On Thursday 17 March, the European Commission placed a €4.6 billion bond issue on behalf of the European Union, the proceeds of which will be lent to Ireland and Romania in return for their introduction of a structural adjustment programme. Ireland will receive €3.4 billion under the European Financial Stabilisation Mechanism (EFSM) and Romania €1.2 billion under the Balance of Payments (BoP) facility.
“Books were closed within less than two...