Bondwatch - The Payout from the Irish People to Banks

[DO'F]

THE DIRTY DOZEN - LAST SIX PAID, NEXT SIX IN LINE - Apols, columns lost in translation!

Maturing On Value (Euro) Collateral Type BANK Issue Date
LAST SIX
5/07/2011 €76,683,196 Sr. Unsec'rd BoI 5/07/2007
5/07/2011 €8,871,225 Sr. Unsec'rd BoI 5/07/2007
5/07/2011 €8,871,225 Sr. Unsec'rd BoI 5/07/2007
6/07/2011 €10,000,000 Sr. Unsec'rd Anglo 6/07/2007
15/07/2011 €10,000,000 Sr. Unsec'rd BoI 16/07/2008
19/07/2011 €2,805,997 Sr. Unsec'rd IL&P 19/07/2006
NEXT SIX
29/07/2011 €40,000,000 Sr. Unsec'rd EBS 29/07/2004
29/07/2011 €2,305,476 Sr. Unsec'rd EBS 1/08/2005
8/08/2011 €200,000,000 Covered BoI 8/08/2008
10/08/2011 €9,520,521 Govt. Liq. Gtd. BoI 9/08/2010
10/08/2011 €4,322,767 Sr. Unsec'rd EBS 30/11/2005
10/08/2011 €4,610,951 Sr. Unsec'rd EBS 1/08/2005


BOND TOTALS - INTERESTING FACTS
LAST SIX: €117,231,644
NEXT SIX: €260,759,714
JULY TOTAL: €215,556,390
AUG. TOTAL: €444,260,916

[morticia]

hmmm, where it says unsecured, does that mean not under the Govt guarantee?? If so, the 10 mill unsecured anglo is a tad annoying

[DO'F]

What about the 40mill due from EBS next Friday, again unsecured?

[PaddyJoe]

What about the 40mill due from EBS next Friday, again unsecured?

That 40 million would go a long way to canceling out the cuts to fuel allowances announced last week by Joan Burton. Those cuts are estimated to save 65 million.
If we have a winter like the last two these cuts will cost lives.
Thanks for posting this thread, Diarmuid. It will be illuminating to compare the sums being paid out on these bonds with the sums being chopped by the government in cutbacks in basic services.
http://www.examiner.ie/ireland/elder...ts-160935.html

[DO'F]

That's the plan, match every cut/closure announcement to a bond just paid or just due, give the lie to the claim that 'the money just isn't there'. If it can be found to pay the bonds but not the services, what does that say about the priorities of this government?

[morticia]

Not to mention the priorities of the Troika....

[C. Flower]

Why are we still paying off this bad, unsecured debt ?

[DO'F]

New post on http://bondwatchireland.blogspot.com/ to reflect the fact that two bonds 'mature' this Friday. If anyone cares enough to have a look at why our deficit is growing, in spite of the Budget 'austerity' measures.

[C. Flower]

I've just made a sticky of this thread.

[DO'F]

You want unsustainable? I'll give ye unsustainable:
GGD (Gross Gov't Debt, per NTMA) end 2010, €148.6bn;
projected deficit borrowings 'til end 2015, €40bn;
bank bonds due to ‘mature’ before end 2015, €60bn;
estimate of cumulative interest on all that debt, €30bn;
added up (no economics degree necessary, simple arithmetic), 148+40+60+30=278; €278,000,000,000 of debt - adds up to default, national bankruptcy, a nation driven to ruin.
And most of us stand by, or post our disgust and anger on forums.

[PaddyJoe]

I found it very difficult to listen to the fuss about the new 100 euro property tax today. It is to be levied on 1.8 million households and is supposed to raise 160 million euro per annum.
There's an Anglo Irish bond due to be repaid in November which is 700 million euro. This property tax will hardly even make a dent in that payment alone.
At least the people of Iceland had the wit to walk away from impossible debts.

[Griska]

I found it very difficult to listen to the fuss about the new 100 euro property tax today. It is to be levied on 1.8 million households and is supposed to raise 160 million euro per annum.
There's an Anglo Irish bond due to be repaid in November which is 700 million euro. This property tax will hardly even make a dent in that payment alone.
At least the people of Iceland had the wit to walk away from impossible debts.

It's hard to stomach, alright.
The sh1te about the "great deal" that Enda got was also hard to take.

[Ah Well]

I found it very difficult to listen to the fuss about the new 100 euro property tax today. It is to be levied on 1.8 million households and is supposed to raise 160 million euro per annum.
There's an Anglo Irish bond due to be repaid in November which is 700 million euro. This property tax will hardly even make a dent in that payment alone.
At least the people of Iceland had the wit to walk away from impossible debts.

There are differences in fusses tho ... as there are with everything ...

Fussed over the uselessness of the property tax in the general scheme of we're screwed - now that's perceptive fussin'

But being fussed simply for the sake of being fussed, cos I'ma type of dude who gets fussed if asked to give anything ... that's too subjective fussin'

[Griska]

There are differences in fusses tho ... as there are with everything ...

Fussed over the uselessness of the property tax in the general scheme of we're screwed - now that's perceptive fussin'

But being fussed simply for the sake of being fussed, cos I'ma type of dude who gets fussed if asked to give anything ... that's too subjective fussin'

Fussin' hell, that's a whole lot of fussin' goin' on

[DO'F]

The next Dirty Dozen - apols again for the fact the formatting has been lost in translation - how would I copy and paste from Excel?
The most important columns are one and two, 'Maturing On' and 'Value (Euro); then check out the sub-totals below.

Maturing On Value (Euro) Collateral Type BANK Bl'mberg I/D Curr Issue Date
5/07/2011 €76,683,196 Sr. Unsec'rd BoI COEF2627554 CAD 5/07/2007
6/07/2011 €10,000,000 Sr. Unsec'rd Anglo COEF6283743 EUR 6/07/2007
15/07/2011 €10,000,000 Sr. Unsec'rd BoI COEG4047478 EUR 16/07/2008
19/07/2011 €2,805,997 Sr. Unsec'rd IL&P COEI1971510 USD 19/07/2006
29/07/2011 €40,000,000 Sr. Unsec'rd EBS COED7949602 EUR 29/07/2004
29/07/2011 €2,305,476 Sr. Unsec'rd EBS COEG8222960 GBP 1/08/2005
8/08/2011 €200,000,000 Covered BoI COEH2265997 EUR 8/08/2008
10/08/2011 €9,520,521 Govt. Liq. Gtd. BoI COEI1870274 JPY 9/08/2010
10/08/2011 €4,322,767 Sr. Unsec'rd EBS COEG2276806 GBP 30/11/2005
10/08/2011 €4,610,951 Snr Unsec'rd EBS COEG3685377 GBP 1/08/2005
22/08/2011 €200,000,000 COVERED BoI COEG6449656 EUR 22/08/2008
25/08/2011 €7,806,678 SR. UNSEC'D BoI COEH3850888 HKD 25/08/2006

BOND TOTALS - INTERESTING FACTS
LAST SIX: €141,794,669
NEXT SIX: €426,260,916
JULY TOTAL: €215,556,390
AUG. TOTAL: €444,260,916