Image by Lochinvar1 via Flickr Yesterday I found this post on the Telegraph website (via Stephen Kinsella). Its quite a worrying read for those of us who are worried about Ireland’s future. Ireland is funded until April but after that we will have to return to the bond market. Our auctions are currently suspended. As Colm McCarthy said in the Irish Independent “The €1.5bn not borrowed in October plus the €1.5bn not borrowed in November represent borrowing postponed, not...
Image via Wikipedia So Fine Gael’s Senator Eugene Regan made a formal complaint to the European Commission about NAMA. He claims the ‘scale and scope’ of the scheme is disproportionate to the size of the Irish economy, transfers too much risk from the banks onto the Irish taxpayer and does not contain sufficient safeguards that Irish depositors and borrowers will not be forced to pay for the huge mistakes by Irish banks. Now I think most people would agree...
Image via WikipediaIt seams I, (as well as every other Irish Tax Payer) has become part owner of Anglo Irish Bank. According to the statement on the IT website “The Government has today decided, having consulted with the Board of Anglo Irish Bank Corporation plc (¿Anglo¿), to take steps that will enable the Bank to be taken into public ownership.” The statement calls Anglo a “major financial institution whose viability is of systemic importance to Ireland”. The reason for...
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