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Comment #571427 by eric nelligan

eric nelligan Aug 26th 2012, 11:38 AM #

Having read Matt coopers book about ‘how Ireland really went bust’ it says very clearly that we were bounced in a bailout which we wouldn’t have needed for another few months. The the ECB were being ruled by Germany and Frances demands and we, Ireland basically took the bullet to save the euro at the time.

What also comes out is that French and German pension funds had invested massively in Irish bank bonds but very little on Irish government bonds. This is why they wouldnt allow us default on the bank bonds as the IMF wanted. The US was not our allie either, to them a run on the banks could have effected wall street.

So in a nut shell, in case anyone really didn’t already know. We were left high and dry by the big boys who were only interested in saving there own countries and getting as much back from what they had lent. We on the otherhand were good europeans who took an almighty rogering where the sun don’t shine.

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Read the article where this comment appeared:

Will Noonan publish the ECB letter that forced Ireland into a bailout?

Will Noonan publish the ECB letter that forced Ireland into a bailout?

Fianna Fáil has called on Michael Noonan to publish Jean-Claude Trichet’s letter himself, after the minister said it should be released.


    Favourite Michael Burke
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    Aug 26th 2012, 12:46 PM

    You’re right Eric, we’re still taking a massive rogering with no end in sight! How/when is all this going to end?
    I mean it’s getting to the point where our wages will be paid directly to the government who in turn will issue us pocket money….just enough to keep us ticking over! They want everything from us and we are doing NOTHING to stop them!

    Favourite Chris Gardiner
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    Aug 26th 2012, 1:34 PM

    I hear you. I have one question. Why is this then not made known more publicly. To be honest I couldn’t tell you the difference between Irish Bank Bonds and Irish Government Bonds. It makes me so angry that now at this stage of my life I have to learn this financial s**t to understand what happened to our country. Most people do not have a clue about this and its not our fault. I hated maths in school and I hate anything to do with banks and their terms and conditions. It turns my stomach just to listen to an add about a bank and the absolute drivel at the end about being regulated by this and that. Regulation means F**k all because we can all see how banks ran amock so to me its all lies lies and lore lies and it kills me to have to learn this garbage in order to see who is responsible for all this mess. All that is happening is we are going around in circles. All this language is used to disguise lies end of story and I am tired of listening to it. Its like their whole intention is to bore us to death so that we switch off and they can continue on with their corruption.

    Favourite Sean O'Keeffe
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    Aug 26th 2012, 2:27 PM

    @Michael Burke. Jerome Reilly, in today’s Sindo, on the growing number of Irish people who are opting for the black economy as a means of protest against government corruption and incompetence.

    “Threat to overall economy as increasing numbers of once law-abiding citizens pay ‘cash in hand’ as form of protest

    THE black economy thrives in a recession. We all know that. But has the exponential growth of the ‘nixer’ become a form of social protest and a symptom of social unrest — not just against joblessness but also against stealth taxes and levies?
    Law-abiding citizens who have lived their lives by the rules are now more cavalier. The heavy burden of paying for the sins of bankers, rogue developers and dumb and dumber regulators who were rewarded for almost treasonable incompetence with big index-linked pensions has made them bitter and more prepared to turn a blind eye.”

    Favourite Paul Mallon
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    Aug 27th 2012, 7:45 AM

    You can see the logic, what’s good for the goose and all that.


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