GALLERY: Protestors occupy AIB branches over €1 billion bond repayment
Sinn Féin protested at AIB’s O’Connell St branch – while the Occupy movement moved into Grafton St – to protest the move.
(All photos: Sam Boal/Photocall Ireland)
MEMBERS of Sinn Féin and the Occupy movement have occupied branches of AIB this lunchtime in protest at the bank’s repayment of an unguaranteed senior bond.
The bank – which is 99.8 per cent owned by the taxpayer following a series of government recapitalisations – is today repaying an unguaranteed bond worth €1 billion.
In a statement, the Occupy Dame Street movement said it had occupied the bank’s branch on Grafton St in Dublin 2 in protest at the payment “that we have no obligation to pay”.
“The stresses of impossible debts, unemployment, and insecurity, are eroding the fabric of society in Ireland,” the movement said.
“Can anyone blame those young people who are emigrating in droves, for leaving in search of some kind of future? The country is being gutted.”
It added that AIB’s bondholders had “took a gamble on the Irish economy and lost. But the government and the Troika agreed that ordinary people in Ireland would cover these losses, through cuts to health services, cuts in benefits, and the imposition of a host of taxes that burden the poor and benefit the few”.
Separately, members of Sinn Féin took to the bank’s O’Connell St branch – occupying a second-floor balcony – to demonstrate its objections to the repayment.
Sinn Féin finance spokesman Pearse Doherty said the repayment of the bond was “totally unacceptable”, particularly given that the amount being repaid was around double the amount that would be removed from the social protection budget in Budget 2013.
“The fact that this bond is being paid today is further evidence of the Government’s failure to deal with the debt crisis,” he said.
“Just as they have no clear strategy to deal with the Anglo Irish debt or the pillar bank debt, they have no plan to deal with the on-going payment of unguaranteed and unsecured bonds.”
Read: AIB repays €1 billion to unsecured bondholders today
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here here diarmaid. well said. David you need to get a grip and stop reading from endas gospel and actually see what all these cuts and taxes are doing to ordinary people. what will my children have to live for?
work for peanuts to repay these massive loans were getting from Europe? have a third world health system because of these massive loans? have little prospect of a decent education? serious grow up and open your eyes man. -
Why do people always criticise those who are standing up against something that’s blatantly wrong? Most of these people are probably against tax hikes and budget cuts and have more than likely been affected in some way or another, yet when someone goes out of their way to highlight the problems they are labelled hippies or a rent-a-crowd.
To me, whether they are hippies or a rent-a-crowd, I don’t particularly care once they are highlighting a point and raising awareness. Should you not be embarrassed that crusty hippies are out fighting for a cause whilst you just complain on your computer?
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Unfortunately I fear this is the start of many. Our government have lost the mandate to govern as they failed in all pre election polices,well maybe not all but a significant proportion. Stephen Donnelly had some interesting views today,fair play to him
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well done to all those involved.
now lets bring on the media assault of branding them hippies and crusties or whatever! they’ve made a stand and we’re proud of them. -
*Insert token nonsensical / unrelated statement about Adams & McGuinness here*
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How many 0 in a billion just can’t imagine seeing that on my bank statement
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These unsecured bondholders are not all completely faceless you know. Some of them are pension funds for our OAP’s. Whilst it gauls me to think the rich are benefitting off this please remember that it is not completely black or white, there are a few greys in there too.
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“We never served king or Kaiser….and we won’t serve then now”, tremendous comment there SF. Have you any practical solutions or is it just more of the same.
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I’m not a member of Sinn Fein, I was merely highlighting the hypocrisy of criticising a group for doing something that meant leaving their homes and going somewhere, from behind a keyboard, I never said I had any practical solutions, so I’m free to comment away
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“Lets highlight this terrible move which will only serve to make life tougher for the ordinary Irish citizen by forcing the closure of their local bank branch, spotting them going about their day-to-day business and making their life tougher.” – Great logic there folks!!!
A proper place to protest this payment to UNSECURED (ie: not part of banking guarantee) bondholders would be AIB HQ in Ballsbridge and/or government buildings. Not the local branch where none of the head honchos are located and the gnáth-duine is dependent on the services provided. Attention seekers at their least impressive. A solution would be better than a flare and a banner.
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@Eoin. Let me get this straight. You are winging that it is the wrong location for a protest. Oh no get this through your head. Everywhere in this country should be a place of protest not just Dublin. NEWSFLASH Dublin isn’t IRELAND. There are other counties in this republic also.
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Chris, tell that to SF and Occupy who were the ones exclusively protesting at bank branches in Dublin. Being a westy myself I’m move than good one my knowledge of all things not capital related. However the decision makers who have decided to pay tax-payers money to unsecured bondholders are based in Dublin and I do think it is to them that any protest should be made.
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Count how many Sinn Féin flags and banners there are. Now count the number that address the issue supposedly at hand. This is a cheap publicity stunt, aimed at promoting a policital party, nothing more.
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Sinn Féin employing occupy tactics and yet some think they should lead the next government…..
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David maybe to the pampered college student with no life experience, this isn’t a big deal, but it sure is to someone like myself on a hospital waiting list, or to the elderly or unemployed who’s minuscule payments are going to be ravaged! Grow up!

























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