Saturday 18 November 2017

Why hot air alone won't be enough to start the bonfire of the bondholders

Tánaiste Joan Burton has supported Prof Patrick Honohan’s call to burn junior bondholders of IBRC
Tánaiste Joan Burton has supported Prof Patrick Honohan’s call to burn junior bondholders of IBRC
Martina Devlin

Martina Devlin

'Burn the bondholders' was one of the most memorable catchphrases to emerge from the financial collapse.

A stirring slogan. It gave the illusion that the Irish were no push- overs and our leaders would fight our corner in Europe.

But it didn't amount to anything - the rallying cry proved to be stitched together with bluster and false promises, and many bondholders were paid in full at a huge and ongoing cost to the nation.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Promoted Links

Today's news headlines, directly to your inbox every morning.

Don't Miss