3 billion per year for 15 years in interest alone?????? on unsecured bonds????? without even putting a dent in the capital???? Defer 31 billion in unsecured loans for ten years???? Surely this is gone beyond the proverbial joke — So Kenny wants to enslave your children as well as you????? I can feel my post-colonial inferiority complex returning……. unless… unless… nah impossible the Irish are already defeated… horsewhipped by their own gombeens. For nigh on 800 years Irish babies were born into penury…. I suppose when it boils down to it we are not fit for independence…… unless…. nah been there, that’s not going to happen!

It will prob appear a week before any proposed referendum might take place to try and sweeten a bitter pill.
Any like all pre election promises it will disappear in days after vote

My understanding from the media is that most or all of this debt is owed to the central bank of Ireland for funds supplied to Anglo. These funds were seignioraged by the CBoI (created out of thin air).
If this is correct, can this debt be returned to thin air?
Why is the CBoI levying onerous interest rates on the hardpressed taxpayer for debts we should not be liable for?

AFAIK the CBoI had to borrow the funds from the ECB. This is the real killer though as trying to pay this back will mean austerity for more years then I care to think about. BTW I reckon that if I had got a € for everytime this change is mentioned I’d be rich by now. A lot of talk about this but very little concrete action. Seems to have replace FG’s mantra of not a cent more……

Scan the bill, upload to pc, reduce size of bill using zoom out, print, = bill reduced in size, Reverse austerity measures, problem solved. Happy Days.

The true title should Read ” the Irish people are WORKING very hard to pay anglo Irish bank debt” while the heads if state feel no austerity pains”

This is a load of crap. All the ecb/central bank has to do is print the 30 billion. No one is owed this money it is all a paper transaction. It’s not going to stoke inflation as the money is going back to the central bank. As a part owner of the euro this is the least we can expect.

What a joke! .Anglo and the Government could have recouped billions for the taxpayers if they had not unjustly and inappropriately discarded a proposal for Sean Quinn to repay all monies, retain all 8000 jobs in the Quinn Group and create 1800 additional jobs.

Instead, they chose a sellout of the QUinn Group that will not recoup one cent for the Irish people, will facilitated the loss of thousands of jobs and all this was done for the enormous benefit of foreign banks and bondholders.

And to add insult to injury the taxpayers are forced to fund the legal costs of Anglo in futile legal actions and enormous PR costs in ANglo propaganda to fool us. On top of all that, we will probably end up being billed for the mother of all tribunals to get to the bottom of this scandal that was facilitated by our Government.

Do the Germans remember when they were laden with war reparations from WW1&WW2. The burden was too much that Hitler cam to power and defaulted on payments. With WW2 they got a Marshall plan to rebuild their country plus given nearly 60 years to pay their debts. What if the Allies decided on no Marshall plan?Short memories.

Best joke of the day ….”eminent economists”….