Protest Today at €1.25 Billion Handover

Protest Today at €1.25 Billion Handover


Sinn Féin will hold a protest at 1pm today in Daunt Square to mark the government handover of €1.25 billion to unsecured bondholders in Anglo-Irish Bank.



Speaking in advance of the event, party councillor Chris O’Leary said:


“Today the government will pay out €1.25 billion to unsecured bondholders at Anglo Irish Bank. This money could be used to reverse all the social welfare and education cuts in the budget, or to abolish the €100 household charge. Instead it will be paid out to anonymous investors in a defunct bank.”

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“Further payments to bondholders are set for later this month, while in March the government will pay out €3 billion on the promissory note used to recapitalise Anglo Irish Bank. In other words, within three months Anglo-Irish Bank will cost more the entire sum of cutbacks and tax-increases in December’s budget.”



“The Irish people are under no moral or legal obligation to pay unsecured bondholders in Anglo-Irish Bank. These investors took a gamble, now they must take their loss. Ireland is being bled dry to cover the banking debts at Anglo.”



“At 1pm today Sinn Féin activists will hold a protest against the handover of this money at Daunt Square. I am encouraging people to join us and make their voices heard. I am asking the people of Cork to tell the government loud and clear - ‘Stop the Handover’.



For further information or comment contact Cllr Chris O’Leary @ 087-2794307