ECB president Mario Draghi’s happy face’

Irish taxpayers will spend the next 40 years paying for losses rung up by a failed private bank

Ireland’s immediate burden has been eased by Thursday’s deal, but Irish taxpayers will still spend decades paying the price demanded by the ECB at the height of the panic in 2008.

…it’s no secret that the ECB has played a key role in this Irish drama. Lenihan maintained near the end of his life that he had put the bank guarantee in place at the insistence of the ECB, although the ECB has never acknowledged that publicly.

Ireland’s Bondage (Editorial, Wall Street Journal)