That is why he de “Man of de year” every feckin where……..except here!

Micheal Martin would be the same. The FF leader is too much a nice guy. This is why Ireland needs a leader with experience at playing political hardball. I think Gerry Adams would be a better leader than either Kenny or Martin.

Finbar he has the balls do not underestimate kenny but now he and his merry band of crims are now part of the problem no the solution ,the looting and pillaging continues.

Finbar. That must rank as the silliest comment of the decade. And it’s only 14/01/13. Congrats

How do you work that one out Rory

Mark
What a brilliant idea! Good gosh why didn’t we think of that before? Gerry Adams for Taoiseach!. Sure wouldn’t his background just frighten the European Central Bank and all of our fraternal Member States into recognition of the hard pressed Proletariat in this Workers Paradise and just make them forgive all of our silly financial nonsense in the run up to the Crash.
He could threaten to “disappear” them or much worse he might even force them to listen to his contorted cupla focail !
Your idea is so good sure it’s not necessary for him to be elected at all. We could just name him as our Dear Leader and then they’ll listen won’t they?

At least Gerry would address the nation and win or loose a debate at least he would go on the Television for all to scorn at the former IRA man who it looks like had a tough time dealing with the loyalists and the British but still won out in the end .Kenny has done nothing in politics only agree and push for more right wing FF policies whilst in opposition .He is water carrier and a bad one at that.

A helluva lot of hard work Norman!

Keep it up never mind the detracters.

See NamaWinelake on twitter and bondwatchireland.blogs for updates in bond payments in Ireland.

Are you really surprised there was no mention on rte?

Eamon no but it doesn’t hurt to point it out.

THANK YOU to the Journal for head lining this.

Not another red cent.

Some people seem to think no bonds should be repaid. Does this extend to the bonds we sold in the past 6 months? Ireland’s finances depend on the sale of bonds which would not be bought if we planned not to pay for them. I don ‘t see the point of writing about these repayments. They are just normal commercial transactions albeit of very high value.

They BET They WIN They LOOSE They still WIN. You dont BET you still LOOSE because they WIN so they Win and you get screwed and if you want more of that unique betting keep betting on FG/L to help but you your going To LOOSE again and they will WIN.Do ye understand the 2nd law for special elite human beings who have all the money they coould want ut will bet using yours because its a WIN WIN situation and its great craic for them.The people will be treated accordingly.

Noel
What does the expression…not another red cent mean?

@finbar I don’t see the connection to Enda.

Your not looking hard enough Marty.

Still looking Norman, perhaps you can point me in the right direction.

No fun in that Marty.

… http://www.cinemasoldier.com/storage/post-images/wheres-walle-big.jpg

Try ‘up your arse’

Marty , is he not the man the people of Ireland voted for to run this country or is is there someone pulling his strings

@Dave So eloquent.

@finbar The FF Government guaranteed the payment of this bond. Not FG and certainly not Enda. It’s all too easy to point a finger of blame, shout and stamp your feet, but how many things in life are simple to resolve.

Look at the other struggling economies in Europe, is that all FF and FG’s fault too? It’s not just a national problem.

There seems to be a common thought in Ireland that our leaders like to inflict pain and suffering on the citizens. I sincerely doubt that has ever been the case. Mistakes have been made, some massive ones, but I don’t believe any of them were due to lack of good faith on our government’s (FF & FG) part. Maybe I’m naive, that’s a can I’ll have to carry.

@ Marty , let me point you in the right direction with more eloquence, you are right about the inheritance bestowed upon FG/Lab, absolutely, and the bank guarantee was the brainchild of Brian Lenihan , albeit he was spreadeagled against a wall and screwed from behind by europe…BUT… if the elected members of this government were simpatico with the citizens of this country they would in all conscience SLASH there wages, integrate their obscene expenses with annual income and stop their spin doctors from spouting lies , day after day, I would have a complete change of heart towards all TD’s (except Lowry and the other thieves) if they stood up and be counted BUT few have, the huge percentage of the guys and gals are egotistical , psychopaths who dont give a fiddles ‘you know what’ about us or our country. So please Marty give me a frigging ‘Kit Kat’

@Dave I’ll give you two Kit Kats, for at least writing something that contains an argument.

I agree with most of what you say there, but I don’t see how most of it is relevant to the specific topic of this bond repayment, and more specifically directly at Enda.

The salaries are so out of touch with reality it’s beyond a joke. But in saying that, I’d have less of a problem with the receipt of those salaries as long as they are not tied to future pension payments and there was no payment of any domestic expenses (I think it’s fair enough that foreign expenses on official business are covered). We can make sure we vote the codgers out if we think they’re not doing a good enough job.

I also believe there should be very little difference between a ministers pension and a regular TDs one. Same with the civil service, the pensions should be sensible and in no manner obscene. That some senior officers who fail at their task, receive higher pensions than those on the front line who work their fingers to the bone providing tangible benefits to society baffles me.
Lowry is on my “probably no forgiveness ever” list, yet beloved by his native clan.

Selective reporting

Never bite the hands that feeds you . Comes to mind

I wish I was a bondholder :(

Shouldn’t you have put ‘of taxpayers money’ in there somewhere.

@paul,why not buy bonds now,they seem to be selling them again

I’m now a bondholder.

Have just bought 2 prize bonds….I’m in there now!!

One of our fine bondholders KBC Bank will be licking their chops today.
I wouldn’t mind so much, except for the fact that they were one of the most agressive banks during the boom (that bust the country).
Boasting of introducing interest only mortgages on family homes,
FAMILY HOMES!

@Anne I fail to see how an investor in a guaranteed bond is a gambler.

We are not gamblers, we know ignorant and corrupt politicans will implement our advice and make us fabulously wealthy on the back of the middle class. They keep our ponzi money system alive.

Do bondholders not get the same warnings as the rest of us “that the value of your investment/shares/savings may also go down……..”

We control your nations money supply. Those rules do not apply to us senior bondholers, a more accurate term would be untouchable bondholders. We threaten withdrawal of money and punish countries who do not do what we tell them.

@Paul for an secured and unsecured (to a greater extent) bonds yes. There are guaranteed bonds (which differ from secure ones) for which the answer is no.

I may have misread the original piece in that, I assumed the bonds were secured ones. Research time for Marty.

Says a person who adores Margaret Thatcher.

And Irish nationwide and shockingly Ulsterbank! The latter we were lead to believe they fell under the Uk juristiction, but no our generous gov took care of UB also. And technically supported Germany and France too, as both pumped money into Irish banks recklessly, then wondered why we had so much money here. You gamble, you win or lose, if you don’t understand ask Paddy Power.

David,
No is the short answer. All 6 of the Irish banks (AIB, BOI, Anglo, PTSB, Irish Nationwide and EBS) would have collapsed without some form of state intervention.
It’s clear that the bankers cannot be trusted to run the banking function. Banking is a privilege where the state issues a licence to institutions which allows them to buy and sell money. They can and usually do make enormous profits from this privilege for executing what is essentially a fairly basic utility. Periodically however, the greed which is inherent in shareholder ownership forces the banks to take increasing risks to maximize profits and ultimately drives them into insolvency as their dodgy investments become bad debts. This is what happened in the past 5 years as the gambles taken on the Irish property market unwound and the banks lost tens of billions which may rise significantly as the mortgage arrears crisis worsens.
Huge, privately owned and systemically important banks are an accident waiting to happen as we have experience in the global financial crisis.

Personally I believe the banking function should be retained for the benefit of the people and not left in the hands of free market capitalism. This would involve a true nationalisation of the banks where the banks are run for the general good of society and not for short term profiteering.
Nationalisation would allow the state/people to collectively benefit from the relatively easy profits to be made from the banking function as well as enforcing proper regulation so that the self destructive pursuit of short term profits at the expense of long term stability is eliminated. The banking institutions could be run as separate entities and measured against each other to preserve competition and maintain efficiency but the controlling stake in each would be held by the state and its citizens.

The Irish government had no part in bailing out Ulsterbank?

@Eddie this was a guaranteed bond, not a gamble.

@marty there is no guarantee in business ..it’s there lost let them bring the banks to court

@Eddie oh come now, of course there are guarantees. I think I may have misread the original piece though, and assumed the bond was a Govt. issued guaranteed bond, and not a secure/unsecure private bond that was later guaranteed by the Govt. I think anyone who had an act or part in that scheme, now realises what a ridiculous decision it was to do so. How many of them would be willing to admit it is another kettle.

Eddie who appoints the judges.

Judges are appointed by the President, acting on the binding advice of the Government.

A large proportion of bond holders are pension funds, and there’s the rub. It’d be lovely to think of “da bondholders” as cat-stroking super villains, but for the most part, they’re fairly normal people who probably don’t even know they’re bondholders. The same people who feel cheated that their tax is going to pay off bank debt would feel equally cheated to find that, once bond payment was reneged, their already reduced pension has been wiped out completely. There are no easy solutions, and any easy solution presented here will most likely be wrong or impossible to implement.

Who was speculating with their cash they use others peoples money to bet and when they win they keep the profits and when they loose they tell the government we lost all these pensions funds bail us out and the Government go alright and give the same speculator betters gamblers the incentive to do it all over again its a gam and their using others people money to play it and when they loose they use others peoples money to play again .Simple as and Bankers Politicians there all in on complicit and their going to wreck this lovely little planet good people have got going here and anyone who defends them is dirt and should be put into it. with them.

Which bond holders Ann. The bond holders who may have bought unsecured Irish bonds on a 50% discount or more and are now getting paid 100% for their efforts thanks to the ECB?

I dont blame the bondholders for trying to make money, sure everybody else would do it too. I blame the government for allowing it to happen!

James the ECB deserves alot more of that blame than our bunch of clowns.

@Kerry the investors in this story bought secured bond.

So the people who are being forced to live in the gutter to pay these bondholders deserve it then? Why? To maintain the greedy over priviledged classes in the manner to which they are completely accustomed in the sodomite Republic. May God Save and Protect all who call on him in the name of our Lord Jesus Christ: May he shower his people with blessings and good health, in spite of the concerted efforts of greedy stock manipulators and banksters, to choke the life and morals out of the people.

@Patricia The Lord’s good uniformed servants in Ireland are part of the “greedy over priviledged classes”. The crimes they’ve committed and covered up in this country are right at the top of the immoral scale.

I’m aware of that Marty. I was referring to paying bond holders in general in response to Ann Hayes comment.

@Kerry and I think I may have been hasty in my earlier comments.

Bondholders are generally pension funds and insurance companies, a lot of the bondholders are even charities…..