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by lmb 4012 days ago
Since this is [citation needed] I dug around. Seems like yes, the ECB pressured Ireland into accepting a bailout by threatening them to shut down ELA. But in fact they did it in a secret letter from Trichet to the then finance minister. Getting that letter released took some pressure, as well. [0][1]

So, the only similarity seems to be the ECB threatening to pull ELA. There has alreay been debate that the ECB is already overstepping their mandate, but I can't find an English source for that.

0: http://www.irishtimes.com/business/economy/o-reilly-hits-out...

1: http://www.bbc.co.uk/news/business-29942060

1 comments

My source is former Irish financial minister talking at parliamentary commission, which investigated crisis, a few months ago. Dont really remember details.