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€1.5bn paid today to unsecured bondholders

11 April, 2012

Speaking today from Leinster House Sinn Fein Senator David Cullinane has criticised the Government for allowing AIB to pay €1.5bn of taxpayers’ money to unguaranteed unsecured bondholders. The Bank, which is in majority state ownership, was due to make the payment to unnamed bondholders today.

Senator Cullinane said:

“Today AIB will pay €1.5bn of taxpayers’ money to unnamed unguaranteed unsecured bondholders. To date AIB has cost the state €20.7bn, it also recently announced potential redundancies running into thousands.

“At a time when the government is saying that it doesn’t have enough money to put teachers in our schools, doctors in our hospitals or to invest in job creation, today’s payment is simply scandalous.

“Once again we see Fine Gael and Labour pump billions into banks and bondholders while imposing extra charges and cuts on low and middle income families.” ENDS

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