Apologies, no update last week, chasing my tail on a number of other subjects, not least the 20-slide/20-seconds per slide presentation in Cork, a considerable challenge for a guy who's exasperated first editor at the Examiner (the legendary Tom Aherne) stated one evening - "If I gave you War & Peace to synopsise 'twould come back longer!"
We didn't miss a whole lot, two smaller bonds paid last week, but this week we're getting into deeper waters. Exactly 12 bonds left in 2011, all in December, and they total a massive €770,000,000. Most of those are senior unsecured, starting with a €43m bond on Monday week, December 5th.
This in a month when - after weeks of softening-up through carefully selected leaks to carefully selected sources - the details of Budget 2012 are announced. The most venerable in our society thrown from familiar surroundings for want of a few hundred thousand while we pay tens of millions on failed bonds, our government paying off the vampires and vultures, the blood-suckers and dead-flesh-eaters of the money markets, while cutting off income and services to all at home.
But sure isn't it all worth it, taking on that additional €100bn of bank bond debt to enable us to borrow €100bn from the ECB, from which we will be able to pay the bank bond billions - all makes perfect sense, right?
Anyway, here they are, the Dirty Dozen for December - Happy Christmas to us all, and Happy New Year to our bondholder friends, a further €3bn in bonds 'maturing' in Jan 2012. A nice way for them to kickstart the year.