Enda says OK for Greece to burn bondholders, but not Ireland

[DCon]

I posted this on the Greece thread but it is probably worthy of its own thread

Enda (under orders from the EU civil servants) has said today that Greece can burn the bondholders.

The Irish people are being good and taking their austerity so will be rewarded with more austerity while the bondholder hair is left un-cut.

Ireland supports early introduction of the European Stability Mechanism, the region’s permanent rescue fund, while opposing bondholder writedowns for countries other than Greece, Prime Minister Enda Kenny said.

The euro area is considering bringing forward the ESM’s debut by a year to mid-2012. The 17-nation region also is considering asking bondholders to contribute more to a second international aid package for Greece crafted in July. The private sector involvement, or PSI, had been due to entail a 21 percent writedown through debt exchanges and swaps.

“In respect to the ESM, we don’t have any objection to an early introduction of that,” Kenny told reporters in Brussels today after meeting with European Commission President Jose Barroso. It should “be made perfectly clear that PSI is an issue of concern not only to Ireland but to other countries. And the same clarity of the exclusiveness and uniqueness of this in respect of Greece, as we referred to in July, should be made perfectly clear.”

http://www.businessweek.com/news/201...enny-says.html

[Fraxinus]

What a wicked little puppet this man is.

I love that, the better you are at taking austerity the more you get. Soon austerity will over take GAA as the nations most popular sport...its already moved above soccer and rugby. What will be Croke Parks next move...reintroduce the ban on foreigh games? Could be too late!

[DCon]

Barroso said in the press conference today that he and Enda share a lot of opinions

I'd wager that if Barroso said he thought God was a 3 headed mermaid who lives in Loch Ness, he'd find Enda nodding in agreement

[concernedparent]

Barroso said in the press conference today that he and Enda share a lot of opinions

I'd wager that if Barroso said he thought God was a 3 headed mermaid who lives in Loch Ness, he'd find Enda nodding in agreement

I wonder which of the three heads he'd be nodding.

[Dr. FIVE]

Sky about to fall down in Belize

http://online.wsj.com/article/BT-CO-...19-710718.html

[C. Flower]

Sky about to fall down in Belize

http://online.wsj.com/article/BT-CO-...19-710718.html

The default won't change the status of Belize's debt in the short term. Belize and its bondholders are negotiating to restructure the country's debt

.....

[Dr. FIVE]

er..

@DonnellyStephen: Troika told us yesterday that payment of unguaranteed snr BHs in pillar banks was at insistence of Gov.

[disability student]

Thanks for posting this piece up as FG govt especially Inda/Noonan lied with their double speak. They are getting more & more exposed re their lies as Truth will out.

[Apjp]

Give it 18 months and we will be at the stage where this govt. will be struggling to fend off a general election, never mind the local/european ones. Everything's beginning to crash down around them, both domestically and europe based as their lies are increasingly exposed. The quicker that happens the better as we want the actions of FF still fresh in people's memories. Despite the wishes of a lot of conservative people here, we do seem to be heading for an Argentine/Albanian style economic collapse, and the next 2 budgets will make Ireland a third world country. We are around 2009 on the 2007-2011 FF/GP collapse scale.

[Captain Con O'Sullivan]

Athfhriotail:
@DonnellyStephen: Troika told us yesterday that payment of unguaranteed snr BHs in pillar banks was at insistence of Gov.

Wouldn't surprise me in the least. Considering who the bondholders are in corporate terms (banks) and in individual terms (large eastern european lads with no sense of humour) I actually wonder whether the Irish Govt individually and on mass are aware that Ireland is part of the shadow international money laundering system and burning bondholders could get them killed.

In other words, is Conor Lenihan a hostage? We know he's not a consultant at Skolkovo for his brains.

[Slim Buddha]

Wouldn't surprise me in the least. Considering who the bondholders are in corporate terms (banks) and in individual terms (large eastern european lads with no sense of humour) I actually wonder whether the Irish Govt individually and on mass are aware that Ireland is part of the shadow international money laundering system and burning bondholders could get them killed.

In other words, is Conor Lenihan a hostage? We know he's not a consultant at Skolkovo for his brains.

I am still wondering if Vekselberg actually met him! If Vekselberg did, the Russian for "WTF" must have gone through his mind.

[Captain Con O'Sullivan]

That Lenihan appointment is intriguing. He had no international profile and yet ended up at a Russian research university/institute. His brother being Irish Minister for Finance and chewing garlic much faster any time there was a mention of bondholders being burnt. Anglo Irish Bank Austria AG had 600million euros of 'eastern european' money floating around in its accounts, cash, when Anglo was screaming for any kind of liquidity and was sold off rather hurriedly- to the point where Anglo paid a bonus to Valartis to take that subsidiary off their hands ASAP.

Wouldnt take a lurid novelist or a curious policeman long to become intrigued by these apparently unrelated matters.

There is no way Conor Lenihan was identified by an executive headhunter for example- this appointment to Skolkovo smells awfully like a favour being called in to me from someone on that side of the continent.

Lenihan doesn't have the sort of CV that should interest people at Skolkovo. Or maybe he does. In which case I'd love a look at it.

[DCon]

Oisin Fanning involved too?

Lenihan carves out new role as he joins board of Polish energy business

Former Fianna Fail energy minister Conor Lenihan has hooked up with shale oil pioneer Oisin Fanning's €180m-valued San Leon Energy. Mr Lenihan has joined the board of the AIM-listed company's Polish arm.

http://www.independent.ie/business/i...s-3203525.html

[Captain Con O'Sullivan]

Seem to have good eastern european connections, don't they- the Lenihans? Or at least Conor does.

I tried following the 'green threads' out of Dublin and banking/political circles as suggested by a whistleblower on this forum who remains hidden and a curious trail pointed to eastern europe via the banking pipeline from wealth funds in the former eastern bloc countries through Vienna via Croatia and Albania and also from Vienna some weird institutions there with links to bloody Israel.

Smelled like dirty money being washed through the western European banking system to me- Dublin being one location where the money 'rested' in various accounts.

[DCon]

Wouldn't surprise me in the least. Considering who the bondholders are in corporate terms (banks) and in individual terms (large eastern european lads with no sense of humour) I actually wonder whether the Irish Govt individually and on mass are aware that Ireland is part of the shadow international money laundering system and burning bondholders could get them killed.

In other words, is Conor Lenihan a hostage? We know he's not a consultant at Skolkovo for his brains.

I wonder if these gents had anything to do with Bonds anywhere in the European banking system

The two men in question were not widely known, and they were named Staņislavs Gorins and Ēriks Vanagels.

A deeper investigation showed that this was not the only instance in which offshore companies “run” by Latvians exported weapons from Ukraine to African countries. According to an investigation by Mike Lewis that was published in 2009 by the Small Arms Survey in Switzerland, the cargo of the Faina represented just one of at least three major Ukrainian maritime arms shipments since September 2007 – shipments which involved anti-aircraft guns, ‘Grad’ rocket systems, T-72 tanks and ammunition, as well as at least five containers of AKM assault rifles. According to Lewis, the company which chartered the first shipment was the UK-registered Marine Energy Trading Company, Ltd (METCO), with the contract being signed by Erik Vanagels, Stan Gorin and another person with a Latvian name, Voldemar Spatz. (They represented the British Virgin Islands-registered companies Milltown Corporate Services and Ireland and Overseas Acquisition.)

Latvians have been involved in more than just the weapons business. They have also taken part in the purchase of oil extraction equipment in Ukraine. This past spring, a state-owned oil company in Ukraine organised a bid for tenders to purchase expensive oil extraction equipment. The contract, which was worth USD 400 million, was signed by a British-registered company behind which Staņislavs Gorins could be found. Journalists later determined that the manufacturing price of the equipment was USD 248.5 million, which means that the true owners of the offshore company who were hiding behind Gorins earned a profit of around USD 150 million.

http://www.rebaltica.lv/en/investiga...directors.html

Companies headed by Vanagels and Gorin won a government order in a March tender on behalf of state-owned oil company Chernomoreneftegas, Ukraine's Black Sea oil producer, for the delivery of $400m worth of oil drilling equipment.

The tender was won by Cardiff-registered Highway Investment Processing LLP, which lists Stan Gorin as a director according to the UK's Companies House. The only other company to "compete" in the tender was Falcona Systems Limited, registered in New Zealand and listing another Latvian, Inta Bilder, as director. It will come as no surprise that this company was founded by Interhold, which lists the ubiquitous Erik Vanagels as a director.

In other words, there was no competition for the oil equipment order, which was parcelled out to the Latvian cabal in a sham of an tender. According to Ukrainian weekly Zerkalo Nedeli, the producer's price for the oil equipment was only $248.5m, so someone made a handsome $150m profit from the deal for doing nothing more than some paperwork.

In December 2009, the US Securities and Exchange Commission (SEC) cracked down on a Latvian Ponzi scheme called Rockford Funding, alleging it had taken over $10m off gullible investors in a matter of months. It transpired that investors' money had been transferred to Latvian banks Rietumu Bank, Regional Investment Bank JSG and Trasta Komercbank. Of the linked companies listed by the SEC, one was a UK company set up by Vanagel's Milltown Corporate Services and Ireland&Overseas Acquisitions – companies in the 1990s that were heavily involved in setting up suspected Ukrspetseksport fronts in Ireland and England

http://foreignnotes.blogspot.com/201...-drilling.html

Gorin, Vanagels, and Vitman are linked as directors and shareholders for hundreds of companies in the UK, New Zealand, US, Ireland, Cyprus as well as companies in classic offshore jurisdictions such as the British Virgin Islands and Panama. The companies they control in turn serve as the directors or shareholders of hundreds or perhaps even thousands of more companies. Their primary companies are Milltown Corporate Services and Ireland & Overseas Acquisitions, (incorporated in Ireland, British Virgin Islands and Belize), Fynel Ltd, incorporated in Cyprus, Jargon Management, also in Cyprus, and the three Panamanian companies: Systemo AG, Cascado AG and Integri SA.

And their activity is not restricted to corrupt Ukrainian state procurement or export deals. The omnipresent companies are involved in dozens of lower level import-export invoice fraud and sub-invoicing cases in Russia and other CIS countries. Typically these are tax evasion cases that sap state budgets of revenues and leaves public employees – teachers and doctors – impoverished, and infrastructure crumbling.

http://www.reportingproject.net/prox...atvian-proxies