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Thread: European Commission tell Denmark don't pay bondholders, so why are we?

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    Politics.ie Member vanla sighs's Avatar
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    Question European Commission tell Denmark don't pay bondholders, so why are we?

    The Danes sought clarity from the EC regarding bondholders. The European Commission have told the Danes that in the event of a bank failure that they should not bail out bondholders but rather let them take the hit. So, if the EC have told Denmark this is the course of action they should follow then why the hell are we bailing out the bondholders? The EC issued those guidlines last Friday.

    Just heard David McWilliams talking about it on Newstalk.

    Maybe others have raised this topic before but this is the first I've heard of the EC having issued guidelines on it. Thanks.

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    Politics.ie Member ballot stuffer's Avatar
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    difference is we are in the euro, denmark is not

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    Politics.ie Member Twin Towers's Avatar
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    Quote Originally Posted by disgruntledcitizen View Post
    difference is we are in the euro, denmark is not
    So?

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    Politics.ie Member paulp's Avatar
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    Quote Originally Posted by disgruntledcitizen View Post
    difference is we are in the euro, denmark is not
    what?

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    Quote Originally Posted by disgruntledcitizen View Post
    difference is we are in the euro, denmark is not
    Surely all the more reason not to repay bondholders - unless they are the ECB themselves ?
    Redacted.

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    Politics.ie Member Ulster-Lad's Avatar
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    Quote Originally Posted by EvotingMachine0197 View Post
    Surely all the more reason not to repay bondholders - unless they are the ECB themselves ?
    The ECB has been buying large amounts of our bonds. What do you think has kept them artificially lower then what they should be?
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    Quote Originally Posted by disgruntledcitizen View Post
    difference is we are in the euro, denmark is not
    What's that got to do with anything?
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    Politics.ie Member vanla sighs's Avatar
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    Quote Originally Posted by disgruntledcitizen View Post
    difference is we are in the euro, denmark is not
    No offence but wtf difference does that make? Both Denmark and Ireland are EU States. The advice came from the EC not the ECB.

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    Ireland is relying on the ECB to bail it out. Denmark is not.

    Most Irish bank bonds are held by EU banks. The ECB does not want them to take a hit. Therefore Ireland obeys the ECB's wishes.

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