RTE news - Rehn says senior bondholders may have to share in cost of bank bailout

MPB

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I am glad to see Mr Rehn and the European Commission starting to catch up with the more sensible posters on this site, along with the likes of DMcW, Paul Sommervile, Constantin Gurdiev, Brian Lucy, Karl Whelan, Morgan Kelly and Peter Matthews.

Pity it took them 2 years and 50 billion.

We really do need to reform our electoral system or we will keep getting idiots and parasites.
 


HarshBuzz

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Astral Peaks

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Has anybody a link for this?
RTE News site says nothing, ditto IT and Independent.

Only Rehn related news I can find is this from Reuters.
 

Astral Peaks

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Google "Rehn says senior bondholders may have to share in cost of bank bailout" and all you get is this thread!

Is this story genuine?
 

goosebump

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strange, why are you not lecturing him about why this cannot be done?

oh, I forgot - you're a Blueshirt now :rolleyes:
Because he hasn't said it.
 

corelli

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Any printed source on this, you sure you heard it right? It's not the 2013 thing again? If otherwise Spain and Portugal will be down the toilet.
It's the bank bond holders, rather than sovereign. I know there is a slight conflation at the moment, but that is the facts of the matter. Ireland doing a bilateral deal with senior bondholders will not, of necessity, have that effect on Spain and Portugal. IF it does, well then, we will have a few years of tough times, which we here are having anyway, and maybe then bond holders will take responsibility for their investments in future.

Are you suggesting it is not time that investors, which is what these bank bond holders are, loose some of their cash when they invest in a worthless product?
 

goosebump

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I am glad to see Mr Rehn and the European Commission starting to catch up with the more sensible posters on this site, along with the likes of DMcW, Paul Sommervile, Constantin Gurdiev, Brian Lucy, Karl Whelan, Morgan Kelly and Peter Matthews.

Pity it took them 2 years and 50 billion.
Its even greater pity that he didn't actually say what the OP claims he has said (pending source).
 

sparkey321

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I have said it befroe on other threads and I will say it again here.

In the current situation Ireland cannto just default on its debt. It would lead to chaos and we cannot survive without external funding.

What Sinn Fein are doign and shouting about is nto just populist nonsense its dangerous populist nonsense.

However once we get a budget passed, prove we can deal with the soverign finances and get a credible government in place then and only then can we sit down with the bond holders (particularly those holding bank related debt) and call a spade a spade, renegotiate the existing debt and payment terms.

In that situation we can demonstrate stability and can controll the situation.
 

goosebump

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Yes he did. It was just on RTE 12 o clock news. He said the Commission have been advocating it all along. Which is a lie, but then again he is a politician.
And yet, despite this being the single largest story in the entire banking crisis, which has the potential to greatly reduce the severity of our economic predicament, it isn't being reported by a single online news agency?
 

goosebump

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He was referring to sovereign bondholders.
I know. I was just pointing out his last comments on the subject of bondholders, to highlight the absence of any source for the current claim.
 

Astral Peaks

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I have just trawled a few reputable news sites, BBC, Reuters, Bloomberg etc and no mention of this.
I refuse to believe that RTE has scooped the entire European media.
Any update from anybody, 'cause if this story is true........
 

goosebump

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Mods

I think this thread should be locked to further comment.

OP voodoochile has not substantiated the so-called report on RTE from Olli Rehn.

OP last posted in September, except for 1 post yesterday.

He/she is a messer.

No, lets keep it open. Lots of good stuff in here.
 

Berty

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I have said it befroe on other threads and I will say it again here.

In the current situation Ireland cannto just default on its debt. It would lead to chaos and we cannot survive without external funding.

What Sinn Fein are doign and shouting about is nto just populist nonsense its dangerous populist nonsense.

However once we get a budget passed, prove we can deal with the soverign finances and get a credible government in place then and only then can we sit down with the bond holders (particularly those holding bank related debt) and call a spade a spade, renegotiate the existing debt and payment terms.

In that situation we can demonstrate stability and can controll the situation.
Nothing more would give me more satisfaction that to give the two fingers to the bond holders but the reality of defaulting would be catastrophic.

Having said that there should be negotiation in that the bond holders should take some losses. But to simply default would put the country into the stone age. I think there are some examples of countries that have defaulted and their experiences have not been good.
 

MPB

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And yet, despite this being the single largest story in the entire banking crisis, which has the potential to greatly reduce the severity of our economic predicament, it isn't being reported by a single online news agency?
RTE did not just report it, they played the audio of his interview.

Now unless it was Cowen doing one of his famous impressions....
 


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