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.