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Wednesday 6 February 2013

Goodbye Anglo, Good IRBC

Now what will it be called? Expect very little  from this breaking news about the liquidation of Anglo. This should have taken place years ago before it destroyed the best company Ireland ever had.

But the taxpayers of Ireland will continue to pay for the next 40 years. Every year they will need to find over 1 billion  to pay just the interest on money never given  or received, remember its just a credit notched against Ireland.At the end of the 40 years we have to pay the Capital as well double  what was credited.

Can we continue to pay it and the answer is simply NO. Sooner or later we will DEFAULT. Could Ireland be the country that saved the Euro now break the it apart "very likely"?

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