We are working on a EBGP peering, using a single bgp session. Should we use a public or a private ip loopback address for the router (cisco 12k) dedicated for this particular peering?
If it's to an ISP then generally you wouldn't use loopbacks you would use the physical interface IP address as the source. You could use eBGP Multihop and then use loopbacks, however unless you have some sort of agreement with the ISP you will need to use public addresses as the peer sources.
If this isn't a peering with an ISP and you have control over either peer then you can pretty much do what you want...
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