Prom Night …or Promnishambles February 6, 2013Posted by admin in Uncategorized.
“The Irish Bank Resolution Corporation Resolution Bill 2013” expected to appear before the Oireachtas tonight. As of this evening the board of the former Anglo Irish Bank, now known as IBRC is no more. The wind up of the wind up is being handled by KPMG of Irish Nationwide auditors fame.
Some big questions regarding Anglo’s big borrowers now headed for NAMA and of course Sean Quinn but tonight seems to be very extraordinary indeed. Eoin Ó’Broin says time allocated is for the legislation is just two hours & ten minutes with Committee stage in 15 minutes. We’ve been here before. Even on what little we know and all we know, it feels like Banker’s coup.
If indeed there is vote tonight, TDs better be sure of what exactly they are voting for. The Cabinet is currently being briefed at this point but few events should strike caution into the heart of an Irish politician then the words Emergency Banking Legislation.
update: Might be far more benign then it appears but right there on page three
AND WHEREAS IN THE ACHIEVEMENT OF THE WINDING UP OF IBRC THE COMMON GOOD MAY REQUIRE PERMANENT OR TEMPORARY INTERFERENCE WITH THE RIGHTS, INCLUDING PROPERTY RIGHTS, OF PERSONS;