Kevin Cardiff, the former secretary general of the Department of Finance, told the US Treasury Department in May 2011 that it was “no game” for Ireland to pay out €1.6 billion to junior bondholders of AIB.
“Earlier this year Anglo Irish Bank, the ‘most failed’ bank in recent history, repaid €700 million to senior bond holders, who were redeemed at par,” Cardiff told senior US official Christopher Smart in a letter released after a...
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