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FINANCE MINISTER Michael Noonan clashed with the independent TD Stephen Donnelly during a motion on the promissory note agreement in the Dáil last night.
The chamber was discussing a motion which welcomed the swapping of the promissory notes issued in respect of the former Anglo Irish Bank being replaced with government bonds when Donnelly’s contribution drew sharp criticism from Noonan.
Donnelly was critical of the government’s decision to not seek a writedown of the debt burden in negotiations with the European Central Bank and claimed that Greece had got a write down of €110 billion on its sovereign debt when it asked.
Noonan said this was not the case: “You’re doing what you always do, you’re misleading people. I heard you on the radio the other day. You were lying, you were lying on Marian Finucane the other morning.”
The Minister quickly withdrew the remark at the request of chairman Ciarán Lynch, saying: “I withdraw, he was misleading Marian Finucane”.
However he went on to say: “You pretend to have expertise… you mislead constantly.”
Watch (from 2m 55 sec)
YouTube: Stephen Donnelly
Earlier Noonan explained to the Dáil, the benefits of the agreement reached last week.
He said: “The principal benefit of this arrangement is that the promissory notes are gone.
“They will be exchanged for long-term Government bonds with an average maturity of 34 to 35 years as opposed to the seven to eight year average maturity of the promissory notes.
“The maturity of the bonds will have significant benefits from a market perspective, as it ensures the liability to repay is beyond most credit investors’ time horizon.”
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Brexit is like a middle-aged man deciding that faraway hills are green, dumping the wife, buying a sports car, getting hair plugs and hanging out in trendy bars trying to crack on to young women.
The point he’s at now is closing time of the bar in the early hours. The staff are trying to clear up around him as he sways drunkenly from side to side arguing with anyone and everyone.
At some level he knows that he’s made a colossal mistake. His wife is going to take him to the cleaners, his kids don’t want to see him and all for what?
To recapture the past?
At least he has taken back control…
@Phil O’ Meara: Do middle-aged women ever get to do these things? Seems a bit sexist and very unfair if they don’t…
@Phil O’ Meara: Well Phil, that’s put me right off dumping the Mrs, buying a sports Car, and getting the noggin done. I’ve been saving up all lockdown for an Audi TT and a trip to Turkey!!
What’s the point of signing a deal with a party that’s threatening to break a deal if you don’t sign?
@Mick Tobin: It’s called politics. Countries and alliances break deals, laws and regulations all the time when it’s expedient for them to do so…
https://reaction.life/the-new-brexit-storm/
If they knew what they wanted 4.5 years ago we could have been ready by now. Britain still waiving the rules and messing it up for everyone.
@Paul Furey: a former imperial power unable to accept their place in 21st century world order, embarrassing themselves every step of the way.
@How is it only Wednesday?: very true! And the amount of misguided nostalgia that was sold to your average brexiteer…..and they swallowed every single word. They get what they deserve.
Throw them out on their ear, the arrogance is off the charts with them, a couple of months of Brexit reality and a collapsing economy should humble them
Wonder why the UK decided to fast track the Covid vaccine yesterday, are they looking for cover so they can go ahead with these 2 bills and breach the Northern Irish protocol…wouldn’t be surprised.
If so the talks will be in crisis, and we’re really looking at no deal, the EU won’t deal with them any longer – trust and goodwill will be completely gone.
The unfortunate thing is that we’ll be caught in the crossfire
This bill is a threat to EU negotiators. Give us what we want , on our terms , or you’ll be sorry. The Brexit eers(tories) believe that if they take it to the wire the EU side will crack.A bit of old divide and conquer technique. It always worked swimmingly back in the good old days of the empire, old boy.
Wanna have hot-lovin’ conversations? You’re on the right way! – chatie.club/xxx
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