Paying off IMF loans early is Noonan’s Trojan Horse

Paying off IMF loans early is Noonan’s Trojan Horse

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Michael Noonan says he’s close to getting agreement to pay off the IMF early by returning to the bond markets to borrow money at cheaper rates. Please remember that everything they do is done for an alternate agenda, one you are never told about.

They sell this to you dressed up as some kind of saving on the net interest paid between IMF loans and new government bonds. But that is all it is … a facade. What Noonan is actually doing here is something quite different and more nefarious.

He is changing the status of the debt from something we could still default on or challenge in the international courts as ILLEGAL ODIOUS DEBT. He is changing it into Secured Government Bonds to new investors who we therefore cannot default on or challenge in the courts.

This is the truth behind this deception and we are stunned that the media don’t mention it because we have been since they first mooted the idea months ago. This is Noonan copper fastening the debt on the backs of the people and the next generation for decades for the benefit European Banks and Investment Houses.

This however will not be the end, as DDI in government will still challenge the original odious debt and force a ruling for those responsible to offset the new secured bonds

Noonan near deal on IMF loans as Swedes back plan

Amanda Billner, Johan Carlstrom and Joe Brennan

Finance Minister Michael Noonan
Finance Minister Michael Noonan

Michael Noonan moved closer to reaching a deal on repaying most of the International Monetary Fund bailout loans early as Sweden looked set to become the last EU to agree.

Sweden’s parliament’s finance committee yesterday unanimously proposed to allow Ireland to refinance IMF funds without triggering similar payments on its lower-cost European loans.

Sweden is the last EU approval needed, and a vote by parliament in Stockholm is scheduled for next week, Lars Widlund, a civil servant at the committee, revealed yesterday.

“This is a positive development in that it removes the final technical hurdle to Ireland repaying its IMF borrowings,” said Philip O’Sullivan, an economist at Investec in Dublin.

Mr Noonan secured a provisional accord from European Union counterparts in September to repay most of Ireland’s €22.5bn of IMF loans early, pending consent from individual nations.

Ireland may save as much as €2.1bn by refinancing most of its IMF loans by selling bonds, according to the troika.

The IMF loans carried an effective 4.99pc interest rate at the end of March, 1.9 percentage points more than its most expensive EU funds, according to the Department of Finance.

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3 Comments

  • Posted November 14, 2014

    gohuntach

    There was a movie in which the people were stealthily replaced by clones who were obedient to the ‘system’. Can’t help but think we need to take fingerprints or retina scans because these people can’t be Irish and do that to their own. Surely?

  • Posted November 15, 2014

    Elaine Ryan

    The rational of Noonan and the rest of politics is that we get the trust of investors who are confident they cannot be burned .Modern day investors will see the general populace bubbling with unease and will not be confident in this situation.

    Noonan and co have an old school way of looking at investment, they are aware of the more interconnected world economy and the speed of change yet they simply cannot get up the speed with the reality of the changed paradigm.

    The reality is we could default and gamble on it. The modern day investment world is bigger and more ruthless than ever, it’s this ideal of Europe and we can’t exist without it, that ideal was formed before the Internet and lightning quick communications we have now, Europe is bing undermined by this yet the old school trod along to the imginary drum beat soon to be a bad case of tinnitus.

    The reality of the investment world is that it forgets lightening quick about any countries debt default ,if the country in question is worth the investment.
    think of the default during the 70’s with the UK government and many more examples.
    Some major investors would love the competition to be burned by Ireland ,they are not good enough investors/gamblers therefore they deserve to loose.

  • Posted November 15, 2014

    mark connolly

    I really cant get my head around all the lies they spill , they like to put it in a way me and u dont understand , a slick trick that makes you question you own intelligence by misinformation and redirection …. sorta like a Nazi propaganda unit working well . Me i think well where did all the money go ? This money the world has lost and because of there slippy fingers we all suffer to a stage of bedlam . did they have it in a big treasure chest and forget to mark X on there map ? makes more sense than what they say but we all know that the parlor trick they pulled on us 99% of the people all around the world only did make them super filth rich 1% a small bit … well richer i would think .. but dont worry yourself because according to them “Money doesnt buy you happiness” , me am not that smart cant understand half the shit they shit …. but i know one thing ! This farce of nothing more than what anyone thats of sound body and you no the rest …. Have a lot to answer for and down the line when they are exposed …… well … they got away with it at that stage and still sucking money and living it up ! Not even a hundred years we have governed this fine state without interference and i tel you something i am ashamed , i hope all the lives lost for our freedom , man women and child CANT see us now . Life is for living not just surviving and them who rule are thriving ?
    This isnt what the Greeks invisioned when they dreamed of democracy because its not , plane in simple . keep together people and they cant win x

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