Posted on 09/07/2010 5:05:46 PM PDT by dynachrome
O'Hagan said that under no circumstance was he advocating a bank such as Anglo Irish to default on any bank bond debt issued under the government's Eligible Liabilities Guarantee (ELG), which the EU has allowed to be extended to the end of the year.
"An Irish default on some of its state-owned bank debt after 29 September actually could benefit the sovereign if properly managed," said Société Générale, adding "a massive transfer of costs and risks" had been moved from "defunct banks to the taxpayer". Reversing that process could now benefit taxpayers, it said.
(Excerpt) Read more at tribune.ie ...
Maybe Ireland should get Bono and the rest of U2 to pay their taxes. They are the richest people in Ireland with maybe the exception of Anthony O’Reilly and Guinness. Bono and U2 have all their income in a tax haven.
Another BOHICA moment!
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