John Bruton and Garrett Fitz support FF's policy on paying Bondholders. Do FG ?

dent

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David McWilliams (on Pat Kenny's show from Kilkenny at moment) has said that the Elite are all saying that WE will pay the Bondholders every last red cent that we owe, as FF have said. Now he included Richard Bruton's brother John, and Garrett Fitzgerald as part of that elite.

McWilliams is saying that Merkel is giving us an out, ie she is saying we DON'T have to pay the bondholders everything and the Bondholders will have to take a haircut, but Cowen has come out and said she is being unhelpful !!!

So since John Bruton and Garrett have sided with FF on this, where does Fine Gael stand ? This is vital that we know where they stand.
 


D

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David McWilliams (on Pat Kenny's show from Kilkenny at moment) has said that the Elite are all saying that WE will pay the Bondholders every last red cent that we owe, as FF have said. Now he included Richard Bruton's brother John, and Garrett Fitzgerald as part of that elite.

McWilliams is saying that Merkel is giving us an out, ie she is saying we DON'T have to pay the bondholders everything and the Bondholders will have to take a haircut, but Cowen has come out and said she is being unhelpful !!!

So since John Bruton and Garrett have sided with FF on this, where does Fine Gael stand ? This is vital that we know where they stand.
Mc Williams made this statement this morning - which would suggest that he was not in touch with what happened overnight. As far as FG policy is concerned, far be it from me to speak for them, but my understanding is that it has always been their policy to pay the bondholders in full.
 

JohnBlake

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We should pay bondholders. They gave us money in good faith and expected a return. Why should they take a hit when they have done nothing wrong, its the govt who messed the money up.
 

dent

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Mc Williams made this statement this morning - which would suggest that he was not in touch with what happened overnight. As far as FG policy is concerned, far be it from me to speak for them, but my understanding is that it has always been their policy to pay the bondholders in full.
I think he's fully aware of what happened.

It's important that we hear from FG, to confirm or deny it.
 

Gemlarkin

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Who exactly are "Us" paleface?

We should pay bondholders. They gave us money in good faith and expected a return. Why should they take a hit when they have done nothing wrong, its the govt who messed the money up.
Who exactly are "Us" paleface?

Do you mean the Irish named Foreign ownd banks, ? or You? or Me?
 

LDF

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We should pay bondholders. They gave us money in good faith and expected a return. Why should they take a hit when they have done nothing wrong, its the govt who messed the money up.
Bonds are not like deposits - risk is priced into bonds.

FG have always said that bond holders in Irish banks should share the burden of bailing out those banks. Those banks were private entities when the bonds were bought and Irish taxpayers should never have been asked to carry the burden of repaying those bond holders in full. That ship has sailed however - Brian Lenihan has pretty much repaid those bondholders in full with your money and mine.

Sovernign debt default is another issue altogether. I don't think any responsible opposition party would announce in advance that they would renegotiate the debt once they get into government. I don't think we can afford to rule out the possibility at this stage.
 
D

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I think he's fully aware of what happened.

It's important that we hear from FG, to confirm or deny it.
How can you "think he´s fully aware of what happened" when his own statement this morning clearly indicated that he was either not aware of what happened overnight or was not quick enough with a script change? All we can be certain of after the past few days is that any threat of default will increase bond yields - contrary to the assertions made here by the default mob.
 

Iarmhi Gael

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Fine GAel have continually said that all Bond Holders should be negotiated with and as LDF said the burden shared.

What part of that do you not understand? Is therre really a need for this thread when FG have continually stated their belief on the matter
 

dent

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How can you "think he´s fully aware of what happened" when his own statement this morning clearly indicated that he was either not aware of what happened overnight or was not quick enough with a script change? All we can be certain of after the past few days is that any threat of default will increase bond yields - contrary to the assertions made here by the default mob.
There will be another crisis, and another crisis until eventually we come out with our hands up. We cannot hope to pay the debt Fianna Fail have lined up for us. McWilliams was commenting on Merkel's statement and he's right - she was giving us an out, which we should be taking NOW, but for the drunken insanity of your boss.
 

Baron von Biffo

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David McWilliams (on Pat Kenny's show from Kilkenny at moment) has said that the Elite are all saying that WE will pay the Bondholders every last red cent that we owe, as FF have said. Now he included Richard Bruton's brother John, and Garrett Fitzgerald as part of that elite.

McWilliams is saying that Merkel is giving us an out, ie she is saying we DON'T have to pay the bondholders everything and the Bondholders will have to take a haircut, but Cowen has come out and said she is being unhelpful !!!

So since John Bruton and Garrett have sided with FF on this, where does Fine Gael stand ? This is vital that we know where they stand.
Bruton has been all over the airwaves on this for several weeks now. His grovelling attitude to the bond holders recalls his cringing Prince Charles performance.
 

dent

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Fine GAel have continually said that all Bond Holders should be negotiated with and as LDF said the burden shared.

What part of that do you not understand? Is therre really a need for this thread when FG have continually stated their belief on the matter
The part that says Garrett Fitzgerald and Richard Bruton's brother say we should pay every red cent back. Two died in the wool FG people. THAT has me worried, and if you look back over my posts you will know that I am supportive of FG and Lab.
 

cry freedom

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In this Isaac Newton world where every action has an equal and opposite reaction, if they don't get us one way they will get us another.
If we burn the bondholders we will pay for it.
If we don't burn them we will pay for it.
The only difference is that if we pay our debts like grown-ups should we will come out of it with some honour and maybe even a little Independence.
We should pay our debts!
 

turdsl

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The part that says Garrett Fitzgerald and Richard Bruton's brother say we should pay every red cent back. Two died in the wool FG people. THAT has me worried, and if you look back over my posts you will know that I am supportive of FG and Lab.

So am I supporter, Did you expect anything else from those two,The two men who brought down a government over the price of a pair of shoes, because they had not the good sense
to talk to the one socialist in the Dail.
 

Iarmhi Gael

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The part that says Garrett Fitzgerald and Richard Bruton's brother say we should pay every red cent back. Two died in the wool FG people. THAT has me worried, and if you look back over my posts you will know that I am supportive of FG and Lab.
Yes - But Fitz & Bruton have said this for a long time - You may as well add Dukes into your list.

Fine GAel have addressed this on many occassion. Vadrakar being the most vocal
 

dent

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So am I supporter, Did you expect anything else from those two,The two men who brought down a government over the price of a pair of shoes, because they had not the good sense
to talk to the one socialist in the Dail.
To be honest, I probably wouldn't expect anything else from them but it is a concern that this might be a common thought in FG.
 

Iarmhi Gael

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To be honest, I probably wouldn't expect anything else from them but it is a concern that this might be a common thought in FG.
Yes - Well said. Its great that we have a political party which allows debate among its members and the members for the confidence to say what they believe.

But noone has come out and supported Bruton & GF
 

turdsl

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To be honest, I probably wouldn't expect anything else from them but it is a concern that this might be a common thought in FG.

Unfortunately it is. They drive me mad at times.
 

Grumpy Jack

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I think Kenny et al pay about as much attention to what Garret FitzGerald says these days as Tony Blair did with Michael Foot.

Here's what Leo Varadkar thinks of Garrett.

[ame="http://www.youtube.com/watch?v=-nnWPgegV8o"]YouTube - Leo Varadkar slags Garret Fitzgerald[/ame]
 

JohnBlake

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Who exactly are "Us" paleface?

Do you mean the Irish named Foreign ownd banks, ? or You? or Me?
Sorry for the confusion. The money was given to the banks who shafted us now for their mistakes but my point is its not the bondholders to blame.
 


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