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Northern Ireland's chief constable told reporters in January that the
meticulously executed December robbery of Belfast's Northern Bank earned the
thieves (who the constable believes are Irish Republican Army members) the
equivalent of about US$50 million, but that because of a peculiarity of the
U.K. banking system, Northern Bank can, and will, legally cancel and replace
all the currency that was taken, rendering the stash, in the constable's
words, "the largest theft of waste paper in the history of Northern Ireland."
If the robbers hadn't taken so much money, the cancellation might not have
been a worthwhile option. [New York Times, 1-7-05]
meticulously executed December robbery of Belfast's Northern Bank earned the
thieves (who the constable believes are Irish Republican Army members) the
equivalent of about US$50 million, but that because of a peculiarity of the
U.K. banking system, Northern Bank can, and will, legally cancel and replace
all the currency that was taken, rendering the stash, in the constable's
words, "the largest theft of waste paper in the history of Northern Ireland."
If the robbers hadn't taken so much money, the cancellation might not have
been a worthwhile option. [New York Times, 1-7-05]
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