Bank Guarantee - Is it that which has us doomed?

[Digout]

Are the bondholders protected by the guarantee ? Is this the reason FF badly need SCAMA ?

If there was to be a default to the bondholders the guarantee would kick in, and seeing as we dont have the cash it would mean a government default and then its time for the IMF or ECB to come in and run the show?

So, its either SCAMA or good bye Irish independence? Sold out by FF once more?

Does anybody know when the next set of bank bonds are due for payment?

This could explain the Green position of supporting the scam. FF have prob told them "If ye walk out now, the country goes down the tubes, and ye will get the blame, not us". Like the wife battered by the alcoholic gambler, the Greens are in fear. They will vote for the scam and walk out after.

[cactusflower]

Don't you remember, "the Bank Guarantee will cost the Irish people nothing"?

[nonpartyboy]

The bank guarantee is not indefinite,we just have to wait it out and then just guarantee the depositors,hopefully FF will be gone by then.
The opposition parties should make a clear statement that the decisions the government is bent on taking are not in the interests of the irish people and unless the government seeks a mandate to make such major decisions they reserve the right to overturn any policy followed previously not in the interest of the irish nation.

[cactusflower]

Lenihan alread put legislation through to extend the damn thing. While I agree in principle that bent deals should not be enforceable, if you look at what happened between Britain and Iceland, you can see that you would want to have he law on your side.

[Herodotus]

The one good thing Labour did was oppose the guarantee. Everyone hates SCAMA, hopefully it will bring down the government.

[DCon]

Lenihan alread put legislation through to extend the damn thing. While I agree in principle that bent deals should not be enforceable, if you look at what happened between Britain and Iceland, you can see that you would want to have he law on your side.

Did the banks tell him that extending it was a good thing? Seeing as he put the Guarantee in place at the banks request I would not doubt that he takes their advice on the duration of it.

[YellowRedGreen]

AIB Investor Relations ...if you want to know about AIB's Senior Debt. Doesnt seem to say who bought them just what the terms and conditions of each issue.

[Cassandra Syndrome]

The banks won't survive credit crunch 2 no matter what. Let's hope the potatoes don't fail this time.

[SPN]

The one good thing Labour did was oppose the guarantee.

But they wouldn't have if they were in Government

It is very easy to Grandstand and pontificate from the sidelines when your actions have no consequence.


Don't be taken in by their populist playacting.

[atlantic]

Me has a feeling in me waters ,that this thing (depression) is only starting,when they try to get inflation moving,up with the interest rates more defaults for the small businessman ,small developer,unemployed mortgage holder,more commercial retail/wholesale park defaults,more hotels going bust,more transport companies getting out or going broke.

The banks won't survive credit crunch 2 no matter what. Let's hope the potatoes don't fail this time.