Tuesday, 6 March 2012

The Dirty Dozen w/e Mar 11th 2012

The €3.1bn Anglo Promissory Note is separate to these bonds, money we're destroying every March 31st for ten years, the price we pay for bailing out the Anglo bondholders.

Look at the numbers; someone please tell me that the €3.2bn in bonds our banks will pay this month ON TOP of that note isn't causing serious damage to the Irish economy - the vampires of the financial market are bleeding us dry, facilitated by the cowardice of our overseers, the Kenny/Gilmore gang, who are implementing the orders of our new masters, the ECB. Oh Ireland, the shame - how far we have fallen.

1 comment:

  1. Efforts are underway since last September to try and restructure the promissory notes. It is another fine mess left by your last Fianna Fail government which for some reason has escaped your attention.

    Anybody who understands the mechanism behind the promissory notes realises that it is a difficult task to neutralise these in such a manner as not to damage Ireland prospects of a return to the bondmarkets. It appears that progress is being made. A rushed botched solution is not the answer. This has got to be done properly even if it takes a few months more. Now of course a solution must be found. I of course share your anger. However a workable solution is required. Not a sticking plaster effort.

    Incidentally you ignore the second problem left by your last government-Ireland's massive deficit and 160 billion euro National Debt. Quite simply tax income is not sufficient to fund services, pensions and social welfare. The shortfall is made up by borrowing. Yet all we hear is the banking problem. Ireland problem is not just the banking problem. It is time people woke up to the astronomical national debt and deficit problems. The country is on economic life support..

    Where have you ever launched a scathing attack on Fianna Fail for creating this horrific mess?
    Before you accuse me of being a government lackey let me remind you that I am a foreign national resident in your lovely country for the last fifteen years. I do not vote in Irish elections. I never will. I take a detached view of Irish politics.

    The economic lunacy of the Celtic Tiger period shocked me. Ireland’s problems cannot be resolved overnight.