No bond too big, no bond too small, the Irish banks will pay them all.
Tomorrow, Tuesday, IL&P - a bank deader than any dodo - will pay a bond of €2.2m, unguaranteed unsecured but sure who's watching?
Next Monday, May 28th, AIB will pay a bond worth more than a thousand times that, a bond of €2.25bn taken out four years ago, May 28th 2008, when AIB was still a private bank.
We now own AIB, just as we now own IL&P, acquired both banks during the recent Troubles. Why? So they could rob us, the Irish people, to pay their bondholders. What's this someone said lately - if you're robbing Peter to pay Paul, Peter is going to be very happy with you. So as the troika continue to pat Paddy on the head, dread-driven Paddy continues to tip the ould forelock.
http://bondwatchireland.blogspot.com/2012/05/dirty-dozen-we-may-27th-2012.html?spref=tw
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