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Mary Hanafin defends giving away €750m to bondholders February 24, 2011

Posted by irishelectionliterature in Fianna Fáil.
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From Vincent Browne 23 February 2011

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1. WorldbyStorm - February 24, 2011

Isn’t she making the same mix up as Lenihan often does when at 1.30 she ropes in the credit unions as an excuse for their actions knowing full well that depositors there and elsewhere were already covered by pre-existing guarantees?

But that aside, remember folks, these are the people who claim they know what’s going on.

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2. Jim Monaghan - February 24, 2011

I think she is just stupid. It must make relatively clever rightwingers like say Noonan and Shane Ross go mad at the thought of a eejit like this in power.
When she loses her seat (hopefully) would you want someone like this teaching your children.

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fergal - February 24, 2011

Jim,
the fact that people like her teach children is part and parcel of the status quo.Being passive and docile is learned behaviour.Anyway, what do you want?Teachers that help children to….think!Mad.

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3. fergal - February 24, 2011

Wasn’t the CU money around 99 million euros?As a percentage of the money used to bailout the banks what is that?0.0001 per cent or 0.00001 per cent?
Where was Hanafin when McGreevy was bullying and harassing the CUs?Where was FF when the CUs were being “sold unbeatable financial products” being told that this was the future and that those who wanted to stick to the old prudential ways were “dinosaurs”(the brother of the presenter of a show called Rip Off Republic being one of the prime hawkers of such products.

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4. Earl Williams - February 24, 2011

So let me get this straight – there was no legal obligation to pay these people anything, and yet they were handed 750mil on a plate?

Does someone somewhere have the goods on Cowen or something?

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coc - February 24, 2011

Yeah. Apparently there was a recording of him badly hungover and they threatened to play it on the national airwaves.

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5. dmfod - February 24, 2011

My impression was that Hanafin was implying that paying every last cent to every last creditor – whether they were covered by the guarantee or not – was part of the deal with the EU. She didn’t want to come straight out and say this though as it shows yet again what an unbelievably shit deal it was – hence the vague spluttering about ‘our international obligations’

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CMK - February 24, 2011

That’s basically it. Our European ‘partners’ are insisting on a ‘no bond holder left behind’ policy; it’s what passes for a point of honour among EU elites.

It was interesting during the last leaders debate when Miriam O’Callaghan phrased a question with ‘our European masters’ and Gilmore immediately shot back ‘our European colleagues’. We may be doomed but at least we’re trying not to ruffle too many delicate Eurocrat feathers.

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WorldbyStorm - February 24, 2011

CMK, can you tell me, who was it in charge of the task force on further deregulation of the Financial Sector that was established in the mid to late 2000s and only dropped in the last year or so. I have a feeling it was the Junior Minister at Finance, but I can’t remember off the top of my head.

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CMK - February 24, 2011

Was it Mansergh?

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6. Tony - February 24, 2011

Would rounding up and executing these thieves be too good for them?

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