Tag Archives: Anglo

The Government is being urged not to allow the repayment of a $1bn (€715m) Anglo Irish Bank bond.

The payment of the bond to unsecured, unguaranteed bondholders is due tomorrow at noon.

Fianna Fáil is calling on Taoiseach Enda Kenny to contact the new president of the ECB Mario Draghi in a last-ditch effort to stop the repayment.

“Clearly the European Central Bank is opposing the move,” said the party’s finance spokesman Michael McGrath.

 Govt urged to halt payment of unsecured Anglo bond (irish Examiner)

This just in from the Guardian’s Lisa O’Carroll: the tragic tale of the Dublin property investor who claims he’s being screwed because he didn’t borrow enough…

Few taxpayers have a shred of sympathy for anyone who did business with Anglo Irish Bank, which is now being wound down. They are too busy working out how they are going to make ends meet.

But spare a thought for the small time entrepreneurs, those who weren’t big enough to have their loans transferred to the National Asset Management Agency (NAMA) and who – bad luck would have it – chose to borrow from Anglo instead of Bank of Ireland or AIB, the two pillar banks who are earmarked to continue in business.

One of those borrowers, David, contacted me with his story. He has about a dozen commercial properties around Dublin, all of them bar one ‘donkey’ performing.

One is occupied by a state tenant, another a multinational in the IT sector and household name. You don’t get more blue chip than that. In all he borrowed about €5m from Anglo.

Anglo’s recovery unit is not really interested in his story.

Anglo Irish Bank lending: one entrepreneur’s perspective (Lisa O’Carroll, Guardian Irish Business Blog)

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“Here’s the sorry story so far. It does read like a Grimm fairy tale … the country with the proverbial three wishes– low interest rates, loose regulation and soaring property prices–that blew all three.”

Oh that’s nice. Thanks.

Call It What You Want. Anglo Is No More (Wall Street Journal – blog)

John Gormley has told RTE News he will be watching tonight’s documentary on our economic collapse with “great interest”.

Freefall (9.35pm, RTE 1) reveals the government was told of Anglo’s insolvency by executives from Bank of Ireland and AIB – hours before it signed off on the bank guarantee. 

This will be news to John because on that particular night he chose to stay in bed.

PhotoCall Ireland

“An Bord Pleanála has granted planning permission for developer Liam Carroll’s North Quay Investments Limited to complete the building of the proposed Anglo Irish Bank headquarters in Dublin’s docklands.”

OK. Developer Liam ‘Zoe’ Carroll, who is €2.8 billion in debt, gets the gig to finish Anglo’s HQ.

Anglo’s latest six-month loss: €8.2 billion.

€2.8 billion, €8.2 billion.

 It’s Golden Circle symmetry, baby.

Carroll Gets Permission To Complete Anglo HQ (RTE.ie)
(Photocall Ireland)

“What do they think? That Sean FitzPatrick is in the cupboard over there and he’s still operating the place?” said Mr Aynsley.
“Giz the key to the stationery cupboard boss.  I want to take Seanie out for a walk.”
Mr Aynsley added that changing Anglo’s name will be top of the agenda if the bank is allowed divide itself into a new ‘good’ bank.
It could be “Good Anglo Irish Bank (AAA-Rated)” or “GAIBAAAR” for the lowbrow lulz.

Fitzpatrick Still Casting A Long Shadow (Irish Independent)


Can one bank (that’d be Anglo) bring down Ireland? Asks the paper this morning.

And, because they don’t know, they ask: how could this have even been possible?

“Ireland was also the country that took the most direct route in tackling the problem [Banking colapse], by recognizing upfront the bad loans of its devastated banks and transferring them to government ledgers.

“Both the United States and Britain avoided such a move by taking stakes in their troubled banks and, in the case of Britain, insuring their worst-performing loans. Now the Irish government’s strategy is being called into question as its credit rating suffers and its borrowing costs resume their upward trajectory.”

Thank heavens nobody outside of New York reads the New York Times. It’s basically a local paper. Like the Evening Echo in Cork. If it had won 104 Pulitzer Prizes.

Bank Strains Ireland (New York Times)