Thursday September 24, 2020

Debt deal must take account of Irish costs

The payment of billions of euro to private sector holders of bonds in dead banks such as Anglo Irish Bank has been one of the most unjust elements of the Irish financial crash.

30th June, 2012

The payment of billions of euro to private sector holders of bonds in dead banks such as Anglo Irish Bank has been one of the most unjust elements of the entire Irish financial crash.

The repayment was partially driven by the state guarantee and partially by the European Central Bank insisting that senior bondholders be paid in full.

This massive transfer of cash from Irish citizens to European investors did one thing - it switched...

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