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FINANCE MINISTER Michael Noonan has said that he is not happy that the State has to repay over €700 million of an unsecured Anglo Irish Bank bond but argued there is no choice in the matter.
The government is today repaying $1 billion USD of an unsecured bond to the now defunct bank in line with the agreement made by the last government to take on all assets and liabilities of Anglo in September 2008.
Noonan told Morning Ireland he was not pleased with the outcome saying this “isn’t a great day when we’re paying back bonds where the taxpayer had no liability whatsoever” but insisted it was in the country’s interests to do so.
He said:
I’m not too pleased that Anglo is being paid back.The arrangements made by the previous government to secure it were a disaster and they left us in a situation where not only was there a guarantee given but for the unguaranteed bonds, the state nationalised the bank and by nationalising the bank they took it over lock, stock and barrel, liabilities as well as assets.
So the only way out, I always said during the election, is we’d only act in the consultation and with the agreement of the European bank and we couldn’t get the agreement but I’m not happy about it.
With another repayment due in January of next year, Noonan said the government was continuing to work with European authorities on alternatives which “was a better way forward” than to not do so.
He cited the interest rate cut Ireland achieved on its bailout loans as one example of the benefits of a good working relationship.
Noonan said that in terms of further promissory notes to Anglo the government was working on one possible alternative which would see them exchanged for a 30-year loan from a European bailout fund which would “take €10 billion off the debt”.
“We’ll keep at it now, the negotiation is not complete, this is ongoing,” he said.
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always wear a seatbelt while seated on an airplane even at cruising altitude.
@Red hurley: totally agree I always reattach the seat belt every time for reasons like this
@Michael Hayden: knowing my luck that would happen just as I got up to go to the toilet
@Peter Cavey:
It would be worse if you were ON the toilet…mid-shlte.
@Peter Cavey: or in the jax. Pissing all over the place.
Clear Air Turbulence (not “Clean Air”)
Sounds like a terrible experience for all passengers on this flight.If i was on it they would have to send the lads in with full body suits and alot of cleaning products!!!
Terrified of flying so i can safely say i would pass out. I get nervous when they wheel the drink trolley around FFS. Poor children they must of been petrified. Some turbulence. Total carnage. Looked like a crash. What is it about flights around Asia Malaysia etc seems to always be very bad episodes of turbulence. Wouldn’t be flying on holiday anywhere near there. Spain is as far as i go and i need counselling before and after.
@Ní Maith Liom Eva: lived in Asia for years and in my experience landings coming into Ireland can match almost anywhere that I’ve flown into. Between Cork and Dublin I’ve had aborted landings, lightning strikes and two occasions where the whole plane fell deathly silent from the sheer volume of turbulence approaching the airport. Not to say that I’ve never had an incident in Asia but they are far less common, at least in my experience
@China Photo Daily: jeez really. Wow wouldn’t ever of thought that. That deathly silence. Oh fu(k I’d be passed out.
scary stuff
I hope Meredith Grey was on board
Sounds like a bit of an aero flop
Yesterday’s news
Russian plane in turbulence incident was Boeing 777 but this photo looks like Airbus 320 or 310. Journal.ie appears no knowledge of plane model….
Looks like a A320 the A300 series has a double bogie main landing gear, Up in the pointy end of the aircraft there is 5 point seat belts for the crew once in the cruise the shoulder and crotch belts are normally released but the strap across the waist is always kept on.
Good old Aeroflot!!
Couldn’t happen to nicer people
Climate change likely to increase frequency and severity of air turbulence http://www.independent.co.uk/Travel-0/climate-change-air-tubulence-increase-bumpier-flights-passenger-planes-commercial-carbon-dioxide-a7670481.html
Hard to know if there is more incidents of significant turbulence or are we just more well informed. Not a very enjoyable flight I’d say.
Russian plane in tur
Thats what can happen when you fly with a party of international competitors and put beans on the flight menu.
The International Flatulance Awards almost lost half the entrants.
have your say