Anglo-Irish Bondholders Should Take the LossesIs the ECB Forcing Ireland to Protect German Investments?

Anglo-Irish Bank did not represent a systemic risk to the Irish economy, it wasn’t a high street bank like AIB or the Bank of Ireland. If it had been allowed to go the way of Lehmans the only losers would have been shareholders and bondholders. The Irish state stepped in and nationalised a bank that was basically run by crooks lending to property speculators. The Irish people are taking losses that should rightly have been shouldered by bondholders.

Every child in Ireland is being bequeathed a huge debt at birth to protect the interests of foreign, mainly German, bondholders – why? Guido was once a bond trader, it was always understood that sometimes the bond issuer defaults. That is the risk investors take.

So why is Dublin’s political establishment so keen to protect foreign investors at the expense of future generations? Guido has obtained the list of foreign Anglo-Irish bondholders as at the close of business tonight. These are the people whom Dublin’s politicians really seem to care about:

Between them they hold Anglo-Irish bonds with a face-value of €4,034,756,880. Shouldn’t they take the hit rather than future generations of Irish taxpayers? Capitalism is a system of profit and loss, they took the risk of investing in Anglo-Irish Bank. Is the Irish government under pressure from the European Central Bank in Frankfurt to protect German investors?




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Shadow Education Secretary Angela Rayner:

“We have no plans to write off existing student debt.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Sunday Shows Sunday Shows
City Confident as Hiring Rates Rocket City Confident as Hiring Rates Rocket
Watch: Best Maiden Speech of 2017 Intake Watch: Best Maiden Speech of 2017 Intake
Child Protection Investigation ‘Stalled to Help Labour’ Child Protection Investigation ‘Stalled to Help Labour’
Davis Accepts Donations from Top Blairite and TV Remainer Davis Accepts Donations from Top Blairite and TV Remainer
BBC #NotOnTheList Stars Paid Via Production Companies BBC #NotOnTheList Stars Paid Via Production Companies
Pants-Wearing Councillor Boasted He Had “Vaz in My Right Pocket” Pants-Wearing Councillor Boasted He Had “Vaz in My Right Pocket”
Champion: ‘Not Possible’ to Keep Student Debt Promise Champion: ‘Not Possible’ to Keep Student Debt Promise
BBC Rich List Revealed: Salaries In Full BBC Rich List Revealed: Salaries In Full
Torbynista Greening Loses Fight for New Money Torbynista Greening Loses Fight for New Money
New Labour Spinner Boasted of Bullying Angela Eagle New Labour Spinner Boasted of Bullying Angela Eagle
Remainers Behind Smears and Negative Briefings Remainers Behind Smears and Negative Briefings
Byline Fined For Defamation in First Impress Ruling Byline Fined For Defamation in First Impress Ruling
Freedom From Abuse Not Abuse of Freedom Freedom From Abuse Not Abuse of Freedom
Milne & Blonde Pictured in Restaurant Milne & Blonde Pictured in Restaurant
Corbyn Spends Evening With Assad Loving Genocide Denier Corbyn Spends Evening With Assad Loving Genocide Denier
Osborne Defends Blackrock’s Investment on Front Page Osborne Defends Blackrock’s Investment on Front Page
Taylor Review Hijacked by Union Sock Puppets Taylor Review Hijacked by Union Sock Puppets
Assange Lawyer Named as Milne’s Mystery Blonde Assange Lawyer Named as Milne’s Mystery Blonde