ECB Caught Changing Embarrassing Transcript; Admits Ireland Was Sacrificed for Europe

Ghandee

OK, used the search function buit couldnt find any existing threads on this, no doubt I'll be proved wrong though:)

Looks like the ECB have been caught red handed admitting that the Irish tax payers money has indeed/is indeed being used to prop up owners of private banks in other European countries.



In a gaff that is certain to humiliate the ECB, when their spokesman Jörg Asmussen addressed a crowd in Dublin last Thursday the 12th of April made a statement proclaiming:

“The decisions concerning the repayment of bondholders in the former Anglo Irish Bank have been a source of controversy, decisions taken by the Irish authorities such as these are not lightly taken and the consequences of subsequent actions are weighted carefully, it is true that the ECB viewed it as the least damaging cost to fully honour the outstanding senior debt of Anglo however unpopular that may now seem, the assessment was made at a time of extraordinary stress in financial markets and great uncertainty, and protecting the hard won gains and credibility from the early successes in 2011 was also a key consideration and the main reasoning was to ensure that no negative spillover effects would be created to other Irish banks or to banks in other European Countries

However, the ECB's website which later published the transcrip appeared to white was over the "or to banks in other European Countries".

This was the transcrip published on the website later:

“I know that the decisions concerning the repayment of bondholders in the former Anglo Irish Bank have been a source of controversy. Decisions taken by the Irish authorities such as these are not taken lightly. And the consequences of subsequent actions are weighed carefully. It is true that the ECB viewed it as the least damaging course to fully honour the outstanding senior debts of Anglo. However unpopular that may now seem, this assessment was made at a time of extraordinary stresses in financial markets and great uncertainty. Protecting the hard-won gains and credibility from the early successes in 2011 was also a key consideration, to ensure no negative effects spilled-over to other Irish banks.”

Full recording of the original speech can be obtained in the links below.

Is this finally proof that we're being sacraficed for Europe? Personally, I'm unsure, but am interested in others opinions on this.

More details here and here

Born to Die

Was there ever a doubt?

Ghandee

Born to Die wrote: »

Was there ever a doubt?

Doubt? Suppose not.

Denial? Tonnes and fcuking tonnes of it.:cool:

Fukuyama

Rabble rabble...

Look we're all in this together.

It wasn't so long ago we got a loan of 80 Billion with a few extra billion from the UK. The interest rates have since come down and although there's a ****storm to go through we're recovering.

At the end of the day we're not being sacrificed. The EU is getting stronger and we're at a turning point - either in the club our outside.

China and Asia are taking off. The US is showing serious signs of recovery.

EUROPE needs to cooperate. United we stand, Divided we fall.

IrishAm

Our european partners are looking more and more like abusive spouses as the mask slowly slips.

Zebra3

It's very important that us proles take the hit, suffer greatly on reduced incomes and almost non-existant public services so the political and business elites can continue at the trough as normal.

Born to Die

Remember that 3.4 billion accounting error, where is that gone?

galwayrush

Born to Die wrote: »

Remember that 3.4 billion accounting error, where is that gone?

Person responsible probably retired on a massive pension, if now, probably promoted....

OfflerCrocGod

Born to Die wrote: »

Remember that 3.4 billion accounting error, where is that gone?

It's been fixed, it's just that €3.4 Billion is a rounding error in the grand total of our debt.

Zebra3

galwayrush wrote: »

Person responsible probably retired on a massive pension, if now, probably promoted....

Didn't he get promoted to a job in Europe?

44leto

So now we know the government had no choice.

Born to Die

galwayrush wrote: »

Person responsible probably retired on a massive pension, if now, probably promoted....

OfflerCrocGod wrote: »

It's been fixed, it's just that €3.4 Billion is a rounding error in the grand total of our debt.

Zebra3 wrote: »

Didn't he get promoted to a job in Europe?

Now yere getting it.

galwayrush

Zebra3 wrote: »

Didn't he get promoted to a job in Europe?

Yes he was, my post was about the general rule of thumb for all people in high places who **** up....

Biggins

Ghandee wrote: »

...Looks like the ECB have been caught red handed admitting that the Irish tax payers money has indeed/is indeed being used to prop up owners of private banks in other European countries...

Well there's a non-shocker to those of us that are keeping a watch on things!
...And those that are, will know also know that Mr Ahern is still on the Swiss board of a major bank to boot!
(One he was also in while also over a state forestry org that he was working for. He was over a bank board by the way who was trying to buy EXTREMELY cheap state land at the same time - a clear conflict of duties - and nothing was or still is being said about that either, or called him yet to account for it.)

In other words, European banks, Ireland governments and our previous and some still present single state politicians - up to their necks in quiet goings on!
We don't know the half of it, to be sure!

Chips Lovell

What a non-story. It isn't a big secret at all that more European banks can't be let fail.

laoch na mona

seriously why do we put up with this ****

Fratton Fred

It doesn't say anything about propping up the owners of private banks.

Happy Monday

People forgetting that the real battles have already been lost.

The fiscal compact will already apply to Ireland as a result of qualified majority voting.

Bailout out given to banks in 2008.

Everyone and everybody else saved at the expense of the Irish taxpayer.

RichieC

The IMF et alls MO has been out on the table for all to see long before they came here. Provide loans, set benchmarks they know can't be met, then crack down on us in response.

Sh1t hasn't even gotten real yet.

This whole charade is just a coup by financial giants.

Zebra3

Biggins wrote: »

Well there's a non-shocker to those of us that are keeping a watch on things!
...And those that are, will know also know that Mr Ahern is still on the Swiss board of a major bank to boot!
(One he was also in while also over a state forestry org that he was working for. He was over a bank board by the way who was trying to buy EXTREMELY cheap state land at the same time - a clear conflict of duties - and nothing was or still is being said about that either, or called him yet to account for it.)

In other words, European banks, Ireland governments and our previous and some still present single state politicians - up to their necks in quiet goings on!
We don't know the half of it, to be sure!

Interesting to know, Biggins. Would consider myself fairly clued in, but had know that that shyster was involved with a Swiss bank. :mad:

Biggins

Zebra3 wrote: »

Interesting to know, Biggins. Would consider myself fairly clued in, but had know that that shyster was involved with a Swiss bank. :mad:

O' thats only the tip of the iceberg!

Sample info links on that alone:
* http://thumped.com/bbs/showthread.php?82617-this-beggars-belief
* http://fisnua.com/?p=442
* http://www.boards.ie/vbulletin/showthread.php?t=2056122734
* https://www.facebook.com/pages/Stop-the-Sale-of-Coillte-to-Bertie-Aherns-Cronies/204766299540974
* http://corkfoodweb.ning.com/forum/topics/bertie-ahern-and-the-great

IM0

Ill just leave this here. I wont be replying to it

goverments are run on bonds. if you try to sell them to bondholders that dont trust that you will pay it back, you cant raise funds to fund your country. bondholders no matter what kind of **** they were or not needed to be paid in the way a contract needs to be respected. you cant go to the markets [the bond markets] and raise money if your credit rating is ****...which is what it would be if we didnt pay the bondholders. but dont let that get in the way of the 'dont pay the evil bondholders' crap thats still being wheeled around.

I point you to the ascent of money on the channel 4 website. specifically the episode with bond somewhere in the title.

SafeSurfer

Dean0088 wrote: »

Rabble rabble...

Look we're all in this together.

It wasn't so long ago we got a loan of 80 Billion with a few extra billion from the UK. The interest rates have since come down and although there's a ****storm to go through we're recovering.

At the end of the day we're not being sacrificed. The EU is getting stronger and we're at a turning point - either in the club our outside.

China and Asia are taking off. The US is showing serious signs of recovery.

EUROPE needs to cooperate. United we stand, Divided we fall.

By what measure do you believe "The EU is getting stronger"?

The ECB has made unlimited funds available to European banks at an interest rate of 1%. The ECB charged sovereign countries an interest rate of 8% on money used to bailout said banks.

Phill Ewinn

Ghandee wrote: »

OK, used the search function buit couldnt find any existing threads on this, no doubt I'll be proved wrong though:)

Looks like the ECB have been caught red handed admitting that the Irish tax payers money has indeed/is indeed being used to prop up owners of private banks in other European countries.

Doesn't matter to me at all what the ECB did or didn't say. Lord knows what the previous and current administration are/were telling them. Probably the same kind of lies they've been telling us.

We shouldn't look beyond our own politicians for the answers to why the ECB want cash from the Irish tax payer.

enfant terrible

We should tell them to get lost.

They'll still pay our public sector bill at the end of every month right?

Spread

Biggins wrote: »

Well there's a non-shocker to those of us that are keeping a watch on things!
...And those that are, will know also know that Mr Ahern is still on the Swiss board of a major bank to boot!
(One he was also in while also over a state forestry org that he was working for. He was over a bank board by the way who was trying to buy EXTREMELY cheap state land at the same time - a clear conflict of duties - and nothing was or still is being said about that either, or called him yet to account for it.)

In other words, European banks, Ireland governments and our previous and some still present single state politicians - up to their necks in quiet goings on!
We don't know the half of it, to be sure!

Please extrapolate Biggins.

Spread

IM0 wrote: »

Ill just leave this here. I wont be replying to it

goverments are run on bonds. if you try to sell them to bondholders that dont trust that you will pay it back, you cant raise funds to fund your country. bondholders no matter what kind of **** they were or not needed to be paid in the way a contract needs to be respected. you cant go to the markets [the bond markets] and raise money if your credit rating is ****...which is what it would be if we didnt pay the bondholders. but dont let that get in the way of the 'dont pay the evil bondholders' crap thats still being wheeled around.

I point you to the ascent of money on the channel 4 website. specifically the episode with bond somewhere in the title.

What about Argentina? Iceland?

old_aussie

Ireland...the Sacrificial Lamb.

Never seen sutch a bunch of people who continually bleat out the message that they are the ones who are hard done by.

Build a bridge and get over it.

tallus

old_aussie wrote: »

Build a bridge and get over it.

Don't trolls usually reside under the bridges ?

old_aussie

tallus wrote: »

Don't trolls usually reside under the bridges ?

People just keep on bleating how hard Ireland is done by, just look at the forums/posts on boards about it.

Ireland just keeps feeling sorry for itself, like it's the only victim of the downturn in the world economy.

I just don't see this on other forums in countries that have been affected just as much as Ireland.

Like Ireland is trying to find someone to blame, as it could be/was of no Irish doing.

It's not like the EU and IMF deserted Ireland, they have loaned billions to get Ireland through.

conorhal

IrishAm wrote: »

Our european partners are looking more and more like abusive spouses as the mask slowly slips.

SHUTUP! They only do it for our own good!
If we just weren't so, clumsy and perhaps paid more attention to them it wouldn't have happened in the first place! I't our own fault really, and after all they only do it because they love us!

sbsquarepants

Dean0088 wrote: »

Rabble rabble...

Look we're all in this together.

It wasn't so long ago we got a loan of 80 Billion with a few extra billion from the UK. The interest rates have since come down and although there's a ****storm to go through we're recovering.

At the end of the day we're not being sacrificed. The EU is getting stronger and we're at a turning point - either in the club our outside.

China and Asia are taking off. The US is showing serious signs of recovery.

EUROPE needs to cooperate. United we stand, Divided we fall.

This kind of attitude sickens me.
We're not all in it together. The private gamblers who staked their money on dodgy bets and the incompetent and corrupt private bankers should be in it alone. They aren't in it at all. They have been awarded some god like status and been declared untouchable, freed from the consequences of their own stupidity and recklesness.
Taxpayers are being ass fúcked to gold plate the fittings on billionaires yachts. United we stand my arse - open your eyes ffs.
We got a loan of 80 billion largely to pay the debts of private companies that we should have just told to fúck off. We we're loaned that money at interest by the very people we should have told to fúck off. That's a racket, not a bailout!!

NinjaK

yet the people will still vote yes in the upcoming vote, pathetic really.

homerjay2005

so we are blaming europe now for all this? was it them who built and then spend all the money on overpriced apartments? was it them who set up our social structure so that it cost us 30billion euro a year?

good lord.

listermint

old_aussie wrote: »

People just keep on bleating how hard Ireland is done by, just look at the forums/posts on boards about it.

Ireland just keeps feeling sorry for itself, like it's the only victim of the downturn in the world economy.

I just don't see this on other forums in countries that have been affected just as much as Ireland.

Like Ireland is trying to find someone to blame, as it could be/was of no Irish doing.

It's not like the EU and IMF deserted Ireland, they have loaned billions to get Ireland through.

Well if you look a bit more into your reflection you will see that a similar thing is happening in Aus presently. You are being propped up by the massive demand for minerals by the likes of China and India. have you looked at your house prices recently?

Lots of people buying investment propertys down there now. What happens if China has a blip. The US is no where out of the water either.

BTW i am pretty confident you dont frequent spanish or greek forums. So your knowledge on the subject is inherently flawed......

Frank Black

More Shinner attempts to whip up anti Europe sentiment - yawn.

listermint

black francis wrote: »

More Shinner attempts to whip up anti Europe sentiment - yawn.

'Europe' can be used loosely these days as the large sovereign states are merely out to save their own skin. I am pretty confident that they really could give a crap what happens to us we are just a cat to be skinned.

Ghandee

black francis wrote: »

More Shinner attempts to whip up anti Europe sentiment - yawn.

So Declan Ganley and Constantin Gurdgiev could be referred to as 'Shinners' now Francis?:D

You have some pair of blinkers on you son.
:pac:

spillover effects are as much about confidence in other wobbly European banks at the time as anything else.

https://www.youtube.com/watch?v=qu2uJWSZkck

Nothing new here.

irishconvert

Dean0088 wrote: »

Rabble rabble...

Look we're all in this together.

It wasn't so long ago we got a loan of 80 Billion with a few extra billion from the UK. The interest rates have since come down and although there's a ****storm to go through we're recovering.

At the end of the day we're not being sacrificed. The EU is getting stronger and we're at a turning point - either in the club our outside.

China and Asia are taking off. The US is showing serious signs of recovery.

EUROPE needs to cooperate. United we stand, Divided we fall.

Awh for **** sake, wake up and smell the coffee :rolleyes:

Dyr

Dean0088 wrote: »

Rabble rabble...

Look we're all in this together.

It wasn't so long ago we got a loan of 80 Billion with a few extra billion from the UK. The interest rates have since come down and although there's a ****storm to go through we're recovering.

At the end of the day we're not being sacrificed. The EU is getting stronger and we're at a turning point - either in the club our outside.

China and Asia are taking off. The US is showing serious signs of recovery.

EUROPE needs to cooperate. United we stand, Divided we fall.

Could you actually fit any more bulls**t platitudes into a single post?

All your missing is "we are where we are" and " we need to be at the centre of europe"