“ECB Caught Changing Embarrassing Transcript” tinyurl.com/chmfalp
— James Lawless (@lawlessj) April 15, 2012
The ECB has been caught red-handed trying to change the text of a speech of one of its executive board members in Ireland on Friday. Joerg Asmussen had originally said that:
“the main reasoning [for the repayment of unsecured bondholders of Irish banks] was to ensure that no negative spillover effects would be created to other Irish banks or to banks in other European Countries.”
However, the reference to “banks in other countries” was whitewashed from the full transcript that was later released online on the ECB website. Presumably the fact that Irish taxpayers’ money is being used to support the owners of private banks in foreign countries is too embarrassing to admit – even for the ECB.