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Dublin: 6 °C Friday 10 April, 2020
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Poll: Should we repay the unsecured Anglo Irish Bank bond?

Tomorrow €730 million is due to be paid on an unsecured Anglo Irish Bank bond. Should the government pay up?

The sign and the bank known as Anglo Irish may be gone but it continues to prove problematic for the government.
The sign and the bank known as Anglo Irish may be gone but it continues to prove problematic for the government.
Image: Niall Carson/PA Archive/Press Association Images

TOMORROW AFTERNOON, the Irish government is due to repay $1 billion US dollars or around €730 million of an unsecured Anglo Irish Bank bond.

The repayment comes despite pressure from opposition parties to renegotiate the payment on foot of the deal that was struck for Greece last week which would see 50 per cent of its sovereign debt in European banks written off.

Fianna Fáil’s spokesman on finance Michael McGrath has criticised the government for failing to put the matter on the table at last week’s EU summit. However the government believed the urgency of the situation in Greece made it an unsuitable time to bring up Ireland’s debt issues.

Taoiseach Enda Kenny has said there are still “a number of options” for reducing the cost of its €67.5 billion EU-IMF bailout and slammed the “horrendous legacy” of the previous government who gave promissory notes to Anglo Irish Bank, giving it enough funds to repay its bonds as they fell due, even when those bonds were not guaranteed.

What do you think? Is the government right to pay money that is due, should it look for a better deal, or should it not pay the money at all?


Poll Results:

No, we shouldn't pay it at all (2145)
Not like this, we should look for a better deal (1019)
Yes, we are right to pay money due (332)
Don't know (215)




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About the author:

Hugh O'Connell

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