Anglo Bondholders Rewarded A Sickening Blow

Says Crowe


Dublin South West TD Seán Crowe has described the confirmation that the junior bondholders at Anglo Irish Bank will be paid out huge sums “as sickening” particularly in a week that saw an elderly couple and family being evicted from their home in Roscommon by another bank KBC.

Crowe said that Irish people bailed out the Anglo Bank at a cost of €35bn between Anglo and Irish Nationwide and have again been given another financial burden.

Deputy Seán Crowe said:

“The payment of hundreds of millions junior bank holders from the now defunct Anglo Irish Bank  is a betrayal of the Irish people who bailed out the bank at a cost of €35bn between Anglo and Irish Nationwide. It is also a sickening blow particularly in a week that saw an elderly couple and their family evicted from their home by another ban KBC

” €285m  Irish taxpayers money is being paid out to bondholders who gamble that there would be scraps to be made out of the carnage of the banking crash. Now in the week before Christmas they are being rewarded with this windfall by Leo Varadkars government with an early Christmas present.

“Former Central Bank Governor Patrick Honohan argued against paying these bondholders saying there was no moral argument for doing so. Former Labour leader Joan Burton as Tánaiste went on national radio at the time to deny this would ever happen.

“The line should have been drawn in 2015 when this was first raised. Instead Fine Gael, aided by Fianna Fail, have carried on as usual and its Irish taxpayers who are again being left to carry the burden

“Last week, a senior banker at Irish Nationwide was given a minimal penalty for lending recklessly. The ongoing prioritisation of the banks, bankers and vultures goes on and on while mortgage holders and all taxpayers pick up the bill.

“Fianna Fáil and Greens with connivance of the bankers were the architects of this mess and the vulture speculators are still reaping hundreds of millions of euro in payments while our housing and health services stumbles  on from crisis to crisis.

“Today is another black day in the history of the banking crash and its aftermath. A decade on and once more it is the Irish people losing out and in the Roscommon actually case, getting evicted and losing their home, while the bondholders continue to be rewarded.” ENDS