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Payments to Anglo Junior Bondholders “a betrayal” - Pearse Doherty TD

18 December, 2018 - by Pearse Doherty TD


Sinn Féin Finance Spokesperson Pearse Doherty TD has said confirmation that the junior bondholders at Anglo Irish Bank will be paid is a betrayal of the Irish people who bailed out the bank at a cost of €35bn between Anglo and Irish Nationwide.

Deputy Doherty said:

“The payment of these hundreds of millions is a betrayal of the Irish people who bailed out the bank at a cost of €35bn between Anglo and Irish Nationwide.

"We are talking about €285m being paid out to bondholders who toughed it out gambling that there would be scraps to be made out of the carnage of the banking crash. Now they are being rewarded by the Irish State with an early Christmas present.

"Former Central Bank Governor Patrick Honohan argued against paying these bondholders saying there was no moral argument for doing so. Joan Burton as Tánaiste went on national radio to deny this would ever happen.

"The line should have been drawn in 2015 when this was first raised. Instead Fine Gael, aided by Fianna Fail, have carried on as usual and the reality is that this news was sadly inevitable under a Fine Gael government.

"Last week, a senior banker at Irish Nationwide was given a minimal penalty for lending recklessly. The ongoing prioritisation of the banks, bankers and vultures goes on and on while mortgage holders and all taxpayers pick up the bill.

"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 our housing and health services stumble on in crisis.

"Today is another black day in the history of the banking crash and its aftermath. A decade on and once more it is the Irish people losing out while the bondholders are laughing all the way home.”

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