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Paying €1.1bn to bondholders is con job

Paying off private investors who took a risk while the State cuts funds for training disabled teenagers is obscene, writes Stephen Donnelly

THIS week, we're all going to be taken for mugs. Again. Over the next four days, €1.1bn will be paid to senior unsecured bondholders in the former Anglo Irish Bank and Irish Nationwide Building Society. Last year's election was meant to put a stop to this type of grand theft. Sadly, nothing has changed. If this Government is ever going to get a significant deal on the debt, it should act like its debts are unsustainable, and take a look at the credit history of our European partners.


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