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Millions for Bondholders as we starve Essential Services – Conway-Walsh

20 December, 2018 - by Rose Conway-Walsh

The payout this week of €270 million to Junior Bondholders at Anglo Irish now IBRC is an affront to Irish citizens who have already paid €35 billion bailing out Anglo and Irish and Nationwide according to Mayo Sinn Féin Senator Rose Conway-Walsh.

Speaking in the Seanad, Senator Conway-Walsh said:

“We were told time and time again by successive Governments that this would not happen.  Yet here we are again prioritising speculators and gamblers over ordinary people. 

“Former Central Bank Governor Patrick Honohan argued against paying these bondholders saying there was no moral argument for doing so.  I do not believe all the legal options were explored to put a stop to these payments.

“Fianna Fáil and the bankers were the architects of this mess and vulture speculators are still reaping hundreds of millions of euro in payments while children are being denied life changing drugs such as Spinraza and Translarna and while our housing and health services stumble on in crisis.

“In addition to this, we have mortgages being sold off to Vultures at hugely discounted prices who have availed of charitable status to avoid paying tax and banks that have 20 year tax holidays.  We are gifting billions to people and faceless entities while we starve essential services and find more ways to take every spare cent from individuals and small businesses that can least afford it.” 

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