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73 percent say Anglo-Irish bank will bankrupt country

By
JAMES O'BRIEN,
IrishCentral.com Staff Writer

Published Sunday, September 5, 2010, 8:13 AM
Updated Sunday, September 5, 2010, 8:15 AM

 

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The Anglo-Irish bank crisis will bankrupt the country and bring down the Government 73 percent of Irish people believe.

The poll in the Sunday Independent comes after a  New York Times article asked a question this week if a bank collapse could also bankrupt the country.

Hard pressed Irish taxpayers, faced with a potenial $50 billion bailout for Anglo clearly believe so.

The bill for all the banks combined could top $70 billion or one third the size of the total economy.

The final method of delaing with Anglo will be decided this week when Finance Minister Brian Lenihan meets European Union competition commissioner Joaquin Almunia in Brussels.

Ireland wants to break Anglo in two with a good bank and bad bank but EU rules may not allow that.

Meanwhile the Greens Party, the smaller party in the coalition government with Fianna Fail are now pressing for a speedy wind-up of Anglo.

Standard and Poors recently downgraded Ireland’s debt because of the bank crisis. They &P estimates the cost of recapitalising all of the banks will be about $70bn.

Meanwhile, Finance Minster Lenihan has defended the decision to attempt to rescue the bank.

Last week he said: "It's not a question of keeping it afloat. It's a question of keeping the financial reputation of the country afloat."

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6 Comments

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Posted by justhimself on Sep 06, 2010, 08:26 PM EDT
In response to Rebel Force, stuck in yesteryear. Anglo Irish is going to put future generations of Irish into a national debtors bondage. Dont you even know, who the overseer's are, board of directors 5 IRISH and 1 Australian. And again any Irish person who wants to better themselves and make something of their lives will imigrate mostly to England, then USA, Canada and Australia. The bar stool intelluctials, will discuss Anglo causes of the national situtation, while sipping their daily pints while collecting the dole... Have another pint, 2 for the road..
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Posted by GeorgeDillon on Sep 06, 2010, 02:20 PM EDT
There is no limit to the evil which the Fianna Fail party, incompetent in everything but corruption, will impose on the Irish people. And it is to the shame of the Irish people ("children of a fighting race"--what a joke) that they bend over and say Go Ahead to Fianna Fail and its Mad Mass Immigration project.
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Posted by Dublinjas on Sep 06, 2010, 05:01 AM EDT
Governments have become so Arrogant now that they have even ventured to destroy the opportunities of Generations not yet conceived. So Arrogant that they will insist on still governing with minuscule support of the electorate. I feel Democracy has run its course, I think it is time to eliminate the Professional Politician and replace them with a much more structured Representative. Party Politics have robbed us of true Democracy and Justice.
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Posted by wizardofoz on Sep 06, 2010, 12:23 AM EDT
Reb, you ignorant auld Anglophobe, there are six directors on the board of Anglo-Irish, and all but one are Irish born and bred! Mike Aynsley, is the odd man out, he’s an Australian. So the Irish are responsible for their own mess. A much larger question, however, is whose responsible for the dire straits the USA finds its self in to day? You lot are on the bones of your arse and the only prop you have, China, is dumping worthless greenbacks at the rate of knots. The thieving Federal Reserve Bank have robbed you blind and your children are about to wake up homeless in the land their forefathers fought and won for them! ! You are blinded by your own bigotry. Like all American Fenians, terrorist supporters one and all, you learned your hatred at your auld grannies knee! Give over!
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Posted by IrishAndProud on Sep 05, 2010, 09:47 PM EDT
WILL bankrupt the country? Ireland (like the USA) is ALREADY bankrupt! I'm not even making any comments for or against this particular bank...I'm just looking at the overall economic picture in Ireland right now -- and it ain't pretty.
Report abuse
Posted by Rebelforce on Sep 05, 2010, 01:36 PM EDT
Serves the Irish right for doing business with, and even allowing a bank with the name "Anglo-Irish" to operate in the country. The Anglo-Irish were the very people who helped hold Ireland in bondage to the British for centuries. "Anglo-Irish" should have been a dirty word in Ireland long before now.
 


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