Anglo Bondholders take social welfare money from Irelands vulnerable

Cllr Anthony Kelly has criticised the transfer of money saved due to social welfare cuts to a maturing bond in Anglo Irish Bank.

"The cuts to social welfare have ripped the heart out of this nation," Cllr Kelly said, shortly after being briefed by Sinn Féins Finance spokesperson Pearse Doherty on the situation. "The effects of those cuts will cause more unemployment, more emigration and more misery for the people of Ireland. Now we find out that money cut from social welfare is going to senior bondholders in Anglo Irish Bank. This is another day of shame for the political establishment in this country."

“Tomorrow Anglo Irish Bank, the bank that is being paid for by Irish taxes, will pay out €750 million for a maturing bond despite the fact that the debt is not covered by the state guarantee. This is the result of the Government’s refusal to burn bondholders in Anglo. Sinn Féin is the only party that has called for Anglo’s bondholders to be burned, for the introduction of a bank resolution bill to guarantee deposits and for a reversal of the savage cuts implemented by this Government. That is the political choice that is before the people in this election.”