Here is what I said in October:
“Fear won! The New World Order won. The people will lose.”
It was an absolute insult that the people had been forced to vote again:
- What part of Ireland’s ‘no’ does the EU not understand? (Guardian)
Aren’t you glad that you’ve got the ‘correct answer this time’ and voted ‘YES’ Ireland?
- Ireland Votes 67% In Favor Of Lisbon Treaty -Final Count (Wall Street Journal)
Now you will pay!
Hester stirs diplomatic row by using EU rules to force Dublin into accepting £7bn bad loans
ROYAL BANK OF SCOTLAND is poised to spark a diplomatic row with Ireland by attempting to dump £7 billion of toxic loans into the Irish “bad bank”.
Stephen Hester, the RBS chief executive, is expected to lodge an application to join Ireland’s National Asset Management Agency (Nama) within the next few weeks through its Ulster Bank subsidiary.
Irish officials are said to be furious about the plan, however. The Treasury had previously reached a “gentleman’s agreement” with its Dublin counterpart over their bailout plans.
The Treasury had agreed that no British banks would apply to use the Nama as long as no Irish banks tried to join the parallel UK programme, the Government Asset Protection Scheme (Gaps).
This was agreed to make it easier for taxpayers in both countries to stomach the deal. Under EU rules, Ireland is legally obliged to consider RBS’s application to join the scheme.
The Irish officials had no idea RBS was considering using the Nama scheme until Hester alluded to the possibility in a conference call with analysts two weeks ago. His comments came after the bank confirmed plans to place £282 billion of assets into Gaps — some £40 billion less than originally planned.
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Tags: Bailout, Banking, Economy, EU, Government, Ireland, NAMA, Politics, RBS, U.K.