GREENS CRITICAL OF GOVERNMENT NEGOTIATIONS ON ANGLO DEBT
Green Party Finance Spokesperson, Mark Dearey has criticised the Government's negotiating approach ahead of tomorrow's payment by the IBRC of unsecured bondholders, claiming that the opportunity to lever relief on the wider Anglo debt has been missed.
"With the protection of depositors no longer an issue, this was the time to create some relief for the Irish people by negotiating on the wider Anglo debt commitments ahead of Wednesday's payment."
On the matter of the Emergency Liquidity Assistance issued by the Central Bank to Anglo, Government and the Taoiseach in particular needed to achieve an agreement with Mario Draghi to achieve a postponment on payments . But he has been remarkably detached on the issue.
This debt was issued by the Central Bank , not borrowed from the private markets. It's renegotiation would provide the necessary platform for the return to growth that under current circumstances looks a remote possibility.
The ECB themselves must recognise that we cannot pay down this level of debt and to force a first payment this March would amount to a collective punishment of the Irish people.
A renegotiation of ELA could be the difference between a second bail out or Ireland returning to the markets. The correct option is clear and needs to be far more vigorously pursued."
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Originally Posted by David Cochrane
