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Anglo Senior Bondholders to be Burnt


Ulster-Lad

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According to a report in the Business Post the Senior Bondholders in Anglo are to be burnt. Granted in reading what I can of the article it is only €145 million but is still a haircut none the less. The question remains though how this will reflect on Ireland?

<Mod> Please do not post copyright-protected material to the site. A link and a short extract are generally sufficient. </Mod>
 
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Ryan Tubbs

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Small but significant, adding to the other 8 billion in other bondholders which have been burned by the Government.

But tune in here, oh in the next 30 mins or so, for the next round of wailing that "How come FG/Labour havent burned any bondholders like they said they would!!!"
 

Shpake

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According to a report in the Business Post the Senior Bondholders in Anglo are to be burnt. Granted in reading what I can of the article it is only €145 million but is still a haircut none the less. The question remains though how this will reflect on Ireland?

[/IMG]
Rephrasing the question: Is our relatively untarnished reputation worth Euro 145 M? will this cause us much more grief further down the line than the initial 145 M relief? Is it FG and labour's way of paying back Lenihan for his planting land mines... (was that Lenny's expression?)
The international press will have loads of jokes about paddy... locking the stable door after the horse has bolted etc. etc.
 

Asparagus

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Whoa there Johnny big breeches!. The internal reputation of this state is at an all-time low. 145 million is a lot of medical equipment or carers allowances. The international view of Ireland can take a couple of these now that Cyprus has screwed everyone over.
 

henryhill

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If this can be done without causing a furore which seems the case, it begs the obvious question of why it wasn't done earlier, and on a larger scale.
 

Analyzer

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If it is true then it is good news.

It is a kind move - it will turn them into better capitalists.
 

Ulster-Lad

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According to a report in the Business Post the Senior Bondholders in Anglo are to be burnt. Granted in reading what I can of the article it is only €145 million but is still a haircut none the less. The question remains though how this will reflect on Ireland?

<Mod> Please do not post copyright-protected material to the site. A link and a short extract are generally sufficient. </Mod>
Being as Stringjack has a problem with a photograph here is a link to support the OP.

As If On Cue, BoomBustBlog Shenanigan Research Gets Real In Ireland, Why Aren't These Guys Knocking On My Door?

and yet another link.

http://www.zerohedge.com/contributed/2013-04-02/one-irelands-biggest-banks-busted-fudging-books-nah-busted-concealing-debt-na
 
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CarnivalOfAction

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If this can be done without causing a furore which seems the case, it begs the obvious question of why it wasn't done earlier, and on a larger scale.
Exactly; shutting stable door after horse burgered.

If this Micky Mouse measure can be taken now why didn't FF/FG/LP do it when it it would have mattered?
 

Ulster-Lad

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Exactly; shutting stable door after horse burgered.

If this Micky Mouse measure can be taken now why didn't FF/FG/LP do it when it it would have mattered?
You see, FG can claim a bit of credit now for burning bond holders. ;)
 

Reck-less

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According to a report in the Business Post the Senior Bondholders in Anglo are to be burnt . . .

including 16 of our Credit Unions.
Credit unions lose €15 million after liquidation of IBRC - Stephen Collins - Irish Times - Fri, Mar 22, 2013


Irish credit unions have accused the Government of behaving worse than the Cyprus authorities in imposing losses on the savings of ordinary people.

A total of 16 credit unions have suffered losses of approximately €15 million following the Government’s decision to liquidate the former Anglo Irish Bank, subsequently called the Irish Bank Resolution Corporation (IBRC).

Chief executive of the Irish League of Credit Unions Kieron Brennan told the Irish Times yesterday that most of the losses would have to be absorbed by the credit unions involved. He said that would mean dividends might not be paid for a number of years in some cases, although shareholder funds would not be touched.

I'm no economist, but is this not a bit of an "own goal" on the part of the government.
 

Rocky

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including 16 of our Credit Unions.
Credit unions lose €15 million after liquidation of IBRC - Stephen Collins - Irish Times - Fri, Mar 22, 2013





I'm no economist, but is this not a bit of an "own goal" on the part of the government.
There are negative consequences to everything really. It's just a case of weighing it up and in the end I think it was the right move.

Things like this do show up the bull************************ you get from David McWilliams, Shane Ross, Stephen Donnelly etc. regarding Anglo/Bondholers etc.
 

mhagain

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May 11, 2010
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Exactly; shutting stable door after horse burgered.

If this Micky Mouse measure can be taken now why didn't FF/FG/LP do it when it it would have mattered?
I think you'll find that it's actually FF/PD/GP who should have done it when it would have mattered.
 

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