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EU rewrites history - taxpayers not the first line of defence in bank bailout


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Howya

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Feb 29, 2012
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In a staggering vote-face Schauble claims that tax payers should not be hit first when bailing out banks


Schäuble defends Dijsselbloem over Cyprus bailout

we’ve always said . . . that whenever banks get into difficulty, then it is not, in the first instance, the taxpayers’ task to step in
While in Ireland's case, some of the junior bond holders took a haircut, they were certainly not wiped out. And the senior bond holders were fully protected.

So, on the one hand Cyprus is a "special situation" and yet on the other hand apparently the same underlying policy has always been in place - would somebody care to tell the Irish tax payer that?
 

Dublin 4

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The Irish Tax Payer is a "Special Case" :roll:

A special case that can look for Legacy Debt Relief were the Sun can't shine either :oops:
 

Sync

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/MOD/ There are multiple threads on this, from the main Cyprus 9.9% one to the "Who got a better deal" thread. /MOD/
 
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