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Thread: Peadar Tóibín Claims German Government Lobbied The ECB To Prevent Any Writedown of Irish Bank Debt

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    Default Peadar Tóibín Claims German Government Lobbied The ECB To Prevent Any Writedown of Irish Bank Debt

    On RTÉ One - The Week in Politics Peadar Tóibín - Sinn Féin TD made the claim that the German government lobbied the ECB directly to prevent any write-downs at Irish banks to protect $57 billion of German money in Irish Banks.

    Is that true? Can Peadar Tóibín show that this is actually the case? That would indeed grossly undermine the position of the ECB. Did the ECB act on behalf of a single country to protect its own bank? That's a scandal if it's true. The Irish government should sue the ECB now!
    Last edited by YouKnowWhatIMeanLike; 4th February 2013 at 07:13 PM.

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    Politics.ie Member ruserious's Avatar
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    Quote Originally Posted by YouKnowWhatIMeanLike View Post
    On RTÉ One - The Week in Politics Peadar Tóibín TD - Sinn Féin made the claim that the German government lobbied the ECB directly to prevent any write-downs at Irish banks to protect 57 billion Euros of German money in Irish Banks.

    Is that true? Can Peadar Tóibín show that this is actually the case? That would indeed grossly undermine the position of the ECB. Did the ECB act on behalf of a single country to protect its own bank? That's a scandal if it's true. The Irish government should sue the ECB now!
    On what grounds, exactly?
    Boycott the "Irish" Sun rag.

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    Politics.ie Member Kerrygold's Avatar
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    Any chance of quoting his actual comments.

    I'm not doubting you, just for the benefit of myself and others who may have missed it.

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    Quote Originally Posted by YouKnowWhatIMeanLike View Post
    On RTÉ One - The Week in Politics Peadar Tóibín TD - Sinn Féin made the claim that the German government lobbied the ECB directly to prevent any write-downs at Irish banks to protect 57 billion Euros of German money in Irish Banks.

    Is that true? Can Peadar Tóibín show that this is actually the case? That would indeed grossly undermine the position of the ECB. Did the ECB act on behalf of a single country to protect its own bank? That's a scandal if it's true. The Irish government should sue the ECB now!
    "Write-downs"? There has never been any question of a write-down. What has been in the offing is an ESM buy-out of this debt, or a substantial part of it at least.

    Can people get their facts straight please?

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    Quote Originally Posted by Kerrygold View Post
    Any chance of quoting his actual comments.

    I'm not doubting you, just for the benefit of myself and others who may have missed it.
    The Week in Politics - RTÉ Player (20:00)

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    Politics.ie Member Rocky's Avatar
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    Quote Originally Posted by YouKnowWhatIMeanLike View Post
    On RTÉ One - The Week in Politics Peadar Tóibín - Sinn Féin TD made the claim that the German government lobbied the ECB directly to prevent any write-downs at Irish banks to protect $57 billion of German money in Irish Banks.

    Is that true? Can Peadar Tóibín show that this is actually the case? That would indeed grossly undermine the position of the ECB. Did the ECB act on behalf of a single country to protect its own bank? That's a scandal if it's true. The Irish government should sue the ECB now!
    I don't know why the Germans would have bothered, as there has never been a chance of that happening.

    At that, it is an extremely big claim and Peadar Toibin should show his evidence. If not, the ECB and the German government would have a pretty big claim to sue him for defamation, although I also doubt they'd be bothered.
    "Give us the future, we've had enough of YOUR past, Give us back our country, to live in, to grow in and to love..."

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    Politics.ie Member Analyzer's Avatar
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    Toibin is lining himself up for a motor accident, I reckon.

    Dangerous thing to say. Very dangerous thing to say.
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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    Politics.ie Member sport02's Avatar
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    This is turning into a right charade. Is this is a choreographed debacle designed to give the government kudos in April?

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    Quote Originally Posted by Rocky View Post
    I don't know why the Germans would have bothered, as there has never been a chance of that happening.

    At that, it is an extremely big claim and Peadar Toibin should show his evidence. If not, the ECB and the German government would have a pretty big claim to sue him for defamation, although I also doubt they'd be bothered.
    Un-phucking-believable.

    How exactly could a joke called the ECB claim to have their good name undermined by another person, when they are so well experienced at doing it themselves ?

    Everything that I have seen in the past week on this website, points to the conclusion that

    FG are the QUISLING party of Ireland, of the current era.
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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    Quote Originally Posted by YouKnowWhatIMeanLike View Post
    On RTÉ One - The Week in Politics Peadar Tóibín - Sinn Féin TD made the claim that the German government lobbied the ECB directly to prevent any write-downs at Irish banks to protect $75 billion of German money in Irish Banks.

    Is that true? Can Peadar Tóibín show that this is actually the case? That would indeed grossly undermine the position of the ECB. Did the ECB act on behalf of a single country to protect its own bank? That's a scandal if it's true. The Irish government should sue the ECB now!
    That €57 billion was mainly owed to German banks in Germany by German banks in the IFSC. This has repeatedly been shown to be the case.

    If there is one shred of evidence to support that view that the ECB made the Irish government introduce the blanket guarantee for the covered banks by all means produce it. This claim is repeatedly made with not one shred of evidence to support it.

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