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Will this man tell us why taxpayers had to repay bondholders?

Here’s everything you need to know about what’s happening in Irish politics right now…

DO YOU WANT State of the Nation delivered to your inbox every morning at 9.30am? Sign-up to our email alert at the bottom of this story.

Everyone’s talking about…

Jean Claude Trichet will be in Dublin today, where he’ll face questions from the banking inquiry.

Europe Interest Rates Jean Claude Trichet AP / Press Association Images AP / Press Association Images / Press Association Images

The former European Central Bank (ECB) president won’t be making his way to Leinster House, however, as the banking committee goes on a tour of sorts.

Trichet will answer questions from committee members after a lecture at the Institute of International and European Affairs at the Royal Hospital in Kilmainham at 2.30pm.

He was in charge of the ECB when Ireland introduced the bank guarantee and entered the Troika’s bailout programme.

Committee members will have two 45-minute sessions in which to question Trichet.

Speaking on Morning Ireland, Labour Senator Susan O’Keeffe said the situation wasn’t ideal but noted that members were happy a compromise had been reached, as this approach was better than nothing and the committee didn’t want “to cut of its nose to spite its face”.

Trichet will no doubt be asked why taxpayers had to repay bondholders owed money by some Irish banks which were being liquidated.

This is a significant day for the inquiry, but whether or not Trichet will say anything new remains to be seen.

The agenda

  • The Taoiseach, Tánaiste, and Jobs Minister will attend a press conference to announce export results for Irish companies in 2014 – which have reached record levels – at 8.45am.
  • Brian Goggin, former Group Chief Executive of Bank of Ireland, will appear before the banking inquiry at 9am.
  • Arts Minister Heather Humphreys will be answering questions in the Dáil at 9.30am.
  • The Children and Youth Affairs Committee will discuss the Children First Bill at 10am.
  • Debate on the Spring Statement will resume in the Dáil at 10.45am.
  • Micheál Martin will launch Fianna Fáil’s campaign for a Yes vote in the same-sex marriage referendum at 11am.
  • Tánaiste Joan Burton will field Leaders’ Questions at noon.
  • As outlined above, Jean Claude Trichet will face questions from the banking inquiry at 2.30pm.

What the others are saying

  • Fianna Fáil leader Micheál Martin has branded the coalition’s plans to cut the Universal Social Charge as a “desparate” attempt to buy votes, reports the Irish Examiner.
  • Former Fine Gael junior minster Lucinda Creighton has said the government is happy to repeat mistakes made during the Celtic Tiger years, according to the Irish Times.
  • The Irish Independent reports that Fine Gael TDs are set to meet Communications Minister Alex White to discuss their concerns about pylons.

Inside Leinster House

Labour TDs are set to come under pressure to support another bill to repeal the 8th amendment.

In case you missed it

On the Twitter machine

This Fianna Fáil Senator isn’t too optimistic about the Trichet meeting.

Originally published: 9am

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67 Comments
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    Mute Keith Masterson
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    Apr 30th 2015, 9:18 AM

    He already has the questions he is going to be asked, he requested this before he agreed, stay tuned for long drawn out replies that don’t touch on any of the facts

    188
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    Mute Al Ca
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    Apr 30th 2015, 2:03 PM

    “Jean-Claude Trichet is not attending the Banking Inquiry – so instead members will be in the audience of a lecture he is delivering in Dublin.”

    From this article…… http://www.breakingnews.ie/ireland/tds-must-attend-trichet-lecture-to-ask-banking-inquiry-questions-675041.html

    In the audience!…… Jeez, talk about treating the Bank Inquiry with contempt.
    What sicken’s me more is members of the Banking Inquiry agreeing to this insult!.

    21
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    Mute Hermes
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    Apr 30th 2015, 3:14 PM

    It fine – he will be extradited and rot in an Irish Prison for the insult he has shown the Irish people …that or we will start playing the game like the british – James Bond and his licence ……

    2
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    Mute Hermes
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    Apr 30th 2015, 3:16 PM

    The Gardai should be arresting him forthwith –
    Breach of Article 5 of the constitution Gardaí – if ye don’t know ….

    3
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    Mute james r
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    Apr 30th 2015, 9:08 AM

    Unaccountablity .. Full stop .

    117
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    Mute Brian Ward
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    Apr 30th 2015, 9:07 AM

    Will he f**k! More likely to ask Enda why he hasn’t made German an official language yet like he was told.

    116
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    Mute B A C
    Favourite B A C
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    Apr 30th 2015, 9:30 AM

    He will be asked hard questions like do u like your scones hot or cold? With butter or without? With currans or plain?

    105
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    Mute Dav Mur
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    Apr 30th 2015, 9:03 AM

    If only. Has the government forgotten what went on here?

    104
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    Mute Jack Eagle
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    Apr 30th 2015, 9:38 AM

    This is just a complete Pantomime, it’s just short of Shane Ross shouting ‘Oh, look he’s behind you!’, as ‘tricky’ Trichet enters the stage and replies – ‘Oh no, I’m not!!’

    It’s a joke and Trichet is totally disrespectful to the Irish nation and making a mockery of the banking inquiry, although Enda Kenny managed to make mockery of the inquiry before it even started by appointing his cronies to ensure the balance power is in FG’s favour.

    101
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    Mute Johnnathan Biskalero
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    Apr 30th 2015, 12:58 PM

    we all know it was a scam , every single person in the country knows it was a scam , except the politicians and the media…….looks a like duck , walks like a duck……it’s a FU******* duck

    30
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    Mute littleone
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    Apr 30th 2015, 9:07 AM

    No . of course not. Why would you explain the con.

    92
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    Mute little jim
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    Apr 30th 2015, 9:07 AM

    He will in his hole, why should he?
    He won.

    83
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    Mute saoirse janneau
    Favourite saoirse janneau
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    Apr 30th 2015, 9:19 AM

    he’s being ‘interrogated’ at 2.30pm but has demanded to see all questions beforehand.. Flies in the face of the word ‘enquiry’ doesn’t it?? Will be interesting how he explains away the letter sent to Mr Lenihan.

    78
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    Mute robby rottenest
    Favourite robby rottenest
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    Apr 30th 2015, 9:31 AM

    Something like – extraordinary situation blah blah, required extraordinary measures blah blah, brave Irish people lick lick, look how well you’re doing now zzz zzz, now where’s the slap up dinner, board flight, in his own head ‘silly pixie heads’.
    The end.

    80
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    Mute Tracey Nally
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    Apr 30th 2015, 11:58 AM

    I bet we’re covering his expenses too.!!!!

    32
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    Mute Reg
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    Apr 30th 2015, 9:07 AM

    Never trust a guy with white collars/cuffs on a different coloured shirt!

    78
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    Mute robby rottenest
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    Apr 30th 2015, 9:25 AM

    I’ve read many a pearl of wisdom but that’s up there with the best Reg.

    44
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    Mute Gearóid Ó Briain
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    Apr 30th 2015, 1:17 PM

    Shit, I’ve just realised I have a white collar and cuffs on a purple shirt! Tell me I’m not one of them!!

    8
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    Mute robby rottenest
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    Apr 30th 2015, 3:31 PM

    Georóid – you burn it, we never speak of it again. Now go my friend, go like the wind.

    5
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    Mute Plantation Watch
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    Apr 30th 2015, 9:11 AM

    Trilateral commission head Jean Paul Trichet.

    You should put the logo of that organisation in the article, interestingly its a circular ’666′ motif.

    Apt.

    76
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    Mute Ray Farrelly
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    Apr 30th 2015, 9:15 AM

    The truth will set you free

    41
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    Mute Hermes
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    Apr 30th 2015, 3:17 PM

    Look at the fangs in his head ….

    3
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    Mute Barry Humphreys
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    Apr 30th 2015, 9:02 AM

    No.

    73
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    Mute Alien8
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    Apr 30th 2015, 9:25 AM

    The only thing that would catch these charlatans out is their own arrogance that they can do whatever they want.
    Hopefully he blags out the truth – that they told the govt to put the banks losses on the Irish taxpayer purely because they could, and knew every govt politician would roll over when they told them to.

    85
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    Mute Tracey Nally
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    Apr 30th 2015, 9:23 AM

    Ok so once again,we as a so called sovereign state nation are dancing attendance on a non democratically elected banker. For him to tell us that there was no alternative, that in the overall scheme of things we are but dirt on the sole of the euro shoe. The eu system is rotten to core. Designed to favour the centre states at the expense of the periphery.

    69
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    Mute Stephen Brady
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    Apr 30th 2015, 9:10 AM

    Hahahahahahaha. You guys crack me up. It’s a no brainier. He will in his hole.

    62
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    Mute Gus Sheridan
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    Apr 30th 2015, 9:14 AM

    Sieg heil Herr Trichet Enda cant wait to bow and scrape when you arrive and dont worry you wont have to answer any hard questions….

    52
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    Mute Chewey Bacca
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    Apr 30th 2015, 9:26 AM

    He will appear in white robes and apologise to the Irish people and commit harikiri.

    42
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    Mute Ray Farrelly
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    Apr 30th 2015, 9:36 AM

    And pig’s will fly

    24
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    Mute Scottie Delaney
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    Apr 30th 2015, 9:55 AM

    When our political system, over the past 20 years has been full of spineless, gutless, incompetent selfers, who act like nodding dogs when conversing with their European masters we were always going to be paying

    33
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    Mute Peter Hargan
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    Apr 30th 2015, 9:38 AM

    Oh I bet he’s shittin his pants at the prospect of all the really difficult questions he’ll have to face
    Would a simple phone call not have revealed as much “transparency “as this futile exercise,would have been cheaper anyway

    33
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    Mute Gearóid Ó Briain
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    Apr 30th 2015, 1:16 PM

    They are only doing it to make themselves look like they are doing something, when in reality it is just a waste of time and money.

    8
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    Mute saoirse janneau
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    Apr 30th 2015, 9:55 AM

    even the IMF condemned his actions. Pot black and all that but it makes it clear that there is dissent within the troika camp. Ajai Chopra last week had this to say about the ECB and its actions back then
    “The letters actually pressed Ireland to do fiscal consolidation, it pressed them to undertake vague structural reforms without specifying what these were, and that, in my view, is an outrageous overreach by a central bank”

    31
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    Mute Egg Head
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    Apr 30th 2015, 9:52 AM

    If this snake uses the phrase moral hazard even once today he should not be allowed out of the country with his head intact. He has done irreparable damage to European financial markets that we will still be suffering from in 50 years with the moral hazard he created, yet he still sees no irony in throwing the phrase around.

    26
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    Mute Mike
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    Apr 30th 2015, 9:58 AM

    The government you elected that approved the bank guarantee got you into the hole the country is in not the EU.

    8
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    Mute Egg Head
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    Apr 30th 2015, 10:03 AM

    EU & ECB are not synonymous. I didn’t mention Ireland in my post, I said he has destroyed European financial markets. There’s a lot more important things in this world that Irish party politics or the finances of sparely populated islands, but it seems you struggle to see beyond these relatively minor issues.

    23
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    Mute Mike
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    Apr 30th 2015, 4:21 PM

    You said “We” I presume you mean Ireland! Foolish if you believe 10s of billions of bank debt this sparsely populated island has to pay back is minor.

    5
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    Mute Peter Hargan
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    Apr 30th 2015, 9:55 AM

    Is’nt it reassuring that we Irish people have the ability to laugh at ourselves,because the rest of Europe and possibly further afield are in knots as soon as they cast a glimpse this direction

    25
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    Mute Paul Roche
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    Apr 30th 2015, 9:41 AM

    Will he f(_)ck!

    23
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    Mute Deco James Connolly
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    Apr 30th 2015, 10:03 AM

    He will if we get the thumb screws out , but that’s the only way he will talk , 7 years on and no one can give a straight answer as to why we had to bail out anglo the builders bank which should have been allowed to fail , I can see the rationale for helping the other banks with the impact their failure would have had on Joe public but anglo was a largely commercial bank and cost us the most .

    23
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    Mute why?
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    Apr 30th 2015, 10:45 AM

    “Trichet will no doubt be asked why taxpayers had to repay bondholders” – I don’t remember electing this guy??!

    it’s a shame we gave up our independence so easily, and all for a motorway, some suits, and some help fishing our own waters.

    22
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    Mute Dav Mur
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    Apr 30th 2015, 10:56 AM

    We’d probably get more answers from Jean-Claude Van Damme.

    20
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    Mute Kerry Blake
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    Apr 30th 2015, 9:40 AM

    How nice of Jean Claude Trichet to agree to meet with some of the commission. European accountability in action.

    19
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    Mute John O'Driscoll
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    Apr 30th 2015, 10:20 AM

    Don’t upset the man as he may get up and go out and join his buddies for a few drinks and small talk.Its a given,that he won’t be taking the blame for the devastating economic collapse here,he’ll reserve that for Ireland itself !!!!!

    18
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    Mute Noreen Lunney
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    Apr 30th 2015, 11:03 AM

    no he will give us long winded answers with no substance, bit like enda.

    18
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    Mute Kevin Higgins
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    Apr 30th 2015, 12:09 PM

    Unlike what the headline suggests the people of ireland have a decent understanding of why it was done. One of the creators of the euro itself explained back in 2012 that this was unjust and would have profound repercussions on whatever country did it.

    We have Nobel prize winners telling us austerity will always fail then we’ve Edna Kenny the school teacher giving out treats for 5 more years.

    16
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    Mute Sheik Yahbouti
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    Apr 30th 2015, 11:45 AM

    No, he won’t. He may however give the committee a good finger wagging.

    16
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    Mute Pearse Mc Mullen
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    Apr 30th 2015, 12:12 PM

    I see Joan Burton is missing in action nowhere to be seen in the Dáil – too afraid to take leaders questions in case Siteserve rears its ugly head?
    Mind you it is still a better sight than her ugly head to be looking at,
    And just as i type this, the house has been suspended for 5 mins, after only kicking off 10 mins ago – What a shambles of a democracy our country has become.

    13
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    Mute Mannix Logan
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    Apr 30th 2015, 11:44 AM

    Better chance of finding out the third secret of Fatima

    13
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    Mute B-Egan
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    Apr 30th 2015, 12:16 PM

    A dark day for Ireland was the day that spawn of the devil got control of the EU. Founding Fascist Father.

    12
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    Mute VereWynnMoans
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    Apr 30th 2015, 12:36 PM

    Anybody know what time the ceremonial kissing of Jean-Claude’s feet by Michael Noonan is on at?
    And,will it be taking place beside a working ATM?
    Le Tw@t.

    9
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    Mute littleone
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    Apr 30th 2015, 12:14 PM

    Why did the journal remove my post about Michael noonan saying the promissory note being illegal on pat Kenny.
    Is censorship going on. Very strange since this is an article about banking enquiry.http://www.rte.ie/radio/radioplayer/rteradiowebpage.html#rii=9%3A10107485%3A133%3A08%2D02%2D2013%3A&type=radio

    9
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    Mute littleone
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    Apr 30th 2015, 12:41 PM

    My apologies to the journal. It was not removed. Still up on article to do with banking enquiry.

    5
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    Mute HRH The Brummie
    Favourite HRH The Brummie
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    Apr 30th 2015, 12:27 PM

    No this man will spin he’s way back to Brussels… He has had the questions given in advance so they can spin, I’d say there will be so much spin he may even get air Bourne. …..

    7
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    Mute Pat Murphy
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    Apr 30th 2015, 12:13 PM

    Who will ask the Taximan’s question?

    7
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    Mute Mike
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    Apr 30th 2015, 9:53 AM

    He wasn’t the one that approved the bank guarantee. The government the Irish people elected made that mistake. Ireland Fuked up, the people, banks and government you must pay for that.

    6
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    Mute Kerry Blake
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    Apr 30th 2015, 10:26 AM

    Sent a letter forcing us to ask for the bailout didn’t he? Also made some remarks about bombs exploding in Dublin if we didn’t do as we were told I believe?

    19
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    Mute Cowenwatch
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    Apr 30th 2015, 11:38 AM

    Very naive to put the blame on the ordinary Joe Soaps. The people were not the ones telling the regulator to take his foot off the peddle – that was down to Mary Harney, if my economics lecturer is correct, nor were the people the ones creating Government policies, nor were they the ones pushing the banks into competition with one another to generate greater profits. The very ones who were responsible though have walked away with their gold-plated pensions.

    13
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    Mute Mike
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    Apr 30th 2015, 4:26 PM

    The people played it’s part in the mess too. Nobody was forced to sign 100% mortgages. Paying ridiculous prices for apartments and houses. Fuelling the bubble. Deluded if you don’t agree with that!

    2
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    Mute Johnnathan Biskalero
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    Apr 30th 2015, 1:06 PM

    absolute waste of time…….our country was THREATENED and our government fell for it ……I say FU**** Trichet and his goons……get an arrest warrant !!!

    6
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    Mute David Breen
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    Apr 30th 2015, 3:10 PM

    I think Irish people are asleep on this topic. Can’t understand why unsecured bondholders would get their money back and irish people for generation’s will have to pay this back. And they talk about the economy coming around.
    Yes market’s do come around. However we own 200 billion. Seems like a big joke to me.

    5
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    Mute Thosj Carroll
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    Apr 30th 2015, 1:06 PM

    Seize his passport once he’s on Irish soil to see if he commits a crime against Irish people. He’s best known for his corruption because he defends rich people against poor.

    4
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    Mute Noel Holland
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    Apr 30th 2015, 12:18 PM

    Jeeeaaaaaan Claude Trichet !! What a w#nker ! what a w#nker !

    4
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    Mute HULK SMASH!
    Favourite HULK SMASH!
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    Apr 30th 2015, 2:15 PM

    He looks like resuscitated corpse.

    4
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    Mute fockoffski
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    Apr 30th 2015, 1:00 PM

    All hail the hypno-toad

    3
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    Mute Jack Dunne
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    Apr 30th 2015, 12:39 PM

    So we could save the world, SuperIreland

    2
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    Mute John
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    Apr 30th 2015, 6:25 PM

    One word. (NO).

    1
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