By Joe Brennan
Bank of Ireland Plc will seek to impose losses of as much as 90 percent on 2.6 billion euros ($3.7 billion) of subordinated debt as it offers bondholders an exchange for cash or equity.
The lender, ordered to raise 5.2 billion euros of capital, said in a statement it expects to offer to pay cash of 10 percent of nominal value for Tier 1 securities and 20 percent for Tier 2 debt, with no settlement of accrued interest. The Dublin-based bank said it may also offer an equity-swap alternative at a premium to the cash offer with a payment of accrued interest.
By Dr. Paul Craig Roberts
One of the wishes that readers often express to me came true today (May 11). I was on the mainstream media. It was a program with a worldwide reach–the BBC World Service. There were others on the program as well, and the topic was Hillary Clinton’s remarks (May 10) about the lack of democracy and human rights in China.
I startled the program’s host when I compared Hillary’s remarks to the pot calling the kettle black. I was somewhat taken aback myself by the British BBC program host’s rush to America’s defense and wondered about it as the program continued. Surely, he had heard about Abu Ghraib, Guantanamo detainees, CIA secret torture prisons sprinkled around the world, invasion and destruction of Iraq on the basis of lies and deceptions, Afghanistan, Pakistan, Yemen, Somalia, Libya. Surely, he was aware of Hillary’s hypocrisy as she demonized China but turned a blind eye to Israel, Mubarak, Bahrain and the Saudis. China’s record is not perfect, but is it this bad? Why wasn’t the Chinese Minister for Foreign Affairs criticizing America’s human rights abuses and rigged elections? How come China minds its own business and we don’t?
Posted in Constitution, Economy Economics, Elections, Human Rights Civil Liberties, Military, MSM Shills, Obama and Company, Prisons, Region: Middle East, Torture
Tagged abu ghraib, bailouts, banksters, class war, egypt, fake elections, illegal wars, Ireland, Israel, moneyed elections, Torture
By Yalman Onaran
Unlike other nations, including the U.S. and Ireland, which injected billions of dollars of capital into their financial institutions to keep them afloat, Iceland placed its biggest lenders in receivership. It chose not to protect creditors of the country’s banks, writes Yalman Onaran.
Government Sachs: Formerly at Goldman Sachs and later appointed to the US Treasury: Steve Shafran, Kendrick Wilson, Henry Paulson, Edward Forst; the men who crashed the world's economy.
In Ireland, protesters held up these signs (many more can be found at The Daily Bail):
Posted in Economy Economics
Tagged bankster gambling debts, banksters, banksters debts, corpogov, fiat currency, finance collapse, goldman sachs, Ireland, obama, ron paul, the fed
By Jordan Shilton
Nov. 30, 2010
The €85 billion bailout agreed on [Nov. 30] between the European Union, International Monetary Fund and the Irish government will enforce the demands of the financial elite through the further impoverishment of the working class. It will ensure that those responsible for the current crisis are protected from any losses, while state finances will be raided once again to bail out insolvent financial institutions.
One in three Irish young adults plan to emigrate… Shocking survey shows emigration rampant
By Donal Driscoll
Over 65,000 Irish have already emigrated
One in three Irish people aged between 18 and 24 are planning to emigrate in the next 12 months, new figures show.
Emigration levels are set to accelerate next year with one in ten people saying they intend to leave Ireland according to the results of an Irish Examiner opinion poll.
By The Real News Network
Paul Jay interviews Leo Panitch, the Canada Research Chair in Comparative Political Economy and a Distinguished Research Professor of Political Science at York University in Toronto. Panitch says that the Irish government’s decision to force the public to bear the private debt of the banks has caused its economic meltdown. He suggests that Ireland lead the way out of this class war by defaulting on the debt, and then nationalizing the banks and making them a public utility.
Austerity measures drive 100,000 protesters to the streets of Ireland, another 100,000 in Italy as Europeans continue to rage against the international banking machine.
By Eric Blair
The international bankster machine seeking to colonize Western nations through debt is now meeting resistance from Greece, to France, to Ireland, to Italy, to Spain, to Portugal, and to the U.K.
These new protests in Ireland and Italy follow a crippling 2-week strike in France where citizens took over fuel refineries and other vital infrastructure, more strikes in Greece which took over the Acropolis, and a massive student protest in the UK that caused physical damage to government buildings. All of these protests were sparked by governments reducing benefits or increasing fees and taxes on a population that had little to do with the private gambling of banks.
Ireland reveals full horror of banking crisis
Taxpayers are being left with the bill and deeper austerity measures, but the government says the banks are too big to fail. Overnight taxpayers learnt they will be shouldering an even bigger burden to bail out the Anglo Irish Bank – to the tune of $41 billion.