Ireland's central bank chief is set to ask ECB permission to delay a €3.1B payment due this...

|By:, SA News Editor

Ireland's central bank chief is set to ask ECB permission to delay a €3.1B payment due this month on a promissory note. The money is to go to Anglo Irish Bank, which can then buy Irish debt which it can then present to the ECB as collateral for funding with which it can then reduce its borrowings from the Irish central bank. We're getting dizzy.