Skip to main content

European neoliberal economic empire threatened Ireland!

How another country forced to fall to the ECB trap

Senior European and European Central Bank (ECB) officials agreed to threaten Ireland with national bankruptcy if the government made any attempt to burn bondholders, according to the Sunday Independent

The threat was made at a high-level teleconference meeting, details of which have been revealed for the first time by the Central Bank governor, Dr Patrick Honohan.”

'The Troika staff told Brian [Lenihan] in categorical terms that burning the bondholders would mean no programme and, accordingly, could not be countenanced,' Dr Honohan writes. 'For whatever reason, they waited until after this showdown to inform me of this decision, which had apparently been taken at a very high-level teleconference to which no Irish representative was invited.'”

In one extract, Dr Honohan reveals that the Troika appeared to be considering 'burning' some senior bondholders in the negotiations which followed Ireland's application for a bailout.”

Dr Honohan was involved in the ECB decision to press Ireland to ask for a bailout and supported it, because of the enormous growth in emergency loans from the Central Bank to the banking system from the middle of September. He says government reluctance to apply for a programme explains his dramatic interview on RTE's Morning Ireland on November 18, 2012, saying that Ireland would go into a bailout, but he did not realise other cabinet ministers had not been kept informed of what was happening.”

More:


Read also:




Latest news from the occupied Greece: Troika dictates the closing of three state industries through an email! Neoliberal dictatorship in full action! 


It is certain that the Troika mafia blackmailed Greek officials to accept the suggested programme and probably promised to "burn" some senior bondholders, as in the case of Ireland, in order to make the Greek government to accept the program more willingly. 

When Greece fell in the trap, things changed rapidly: the government left the deposits of universities and hospitals unprotected, allowing their massive conversion in Greek bonds by the Bank of Greece, just before the new bond haircut PSI program, bringing huge losses in their stocks, while minor bondholders who put all their savings in Greek bonds, lost their money. Senior bondholders, mostly German and French banks, saved all their money through the program terms while the Greek banks were bailed out with billions of taxpayers' money.

Comments

Popular posts from this blog

Capitalism & Genocide - Yanis Varoufakis Speech at the Gaza Tribunal, 23rd October 2025, Istanbul

Yanis Varoufakis   On 23rd October, Yanis Varoufakis testified in front of the Jury of Conscience in the context of the Gaza Tribunal. His speech focused on the economic forces underpinning the genocide of the Palestinian people. In particular, he spoke on the manner in which capitalist dynamics have historically fuelled the white settler colonial project and, more recently, how the accumulation of a new form of capital - which he calls cloud capital - has accelerated, deepened and amplified the economic forces powering and propelling the machinery of genocide. 

Munich Shock: Rubio’s Vision of a New Western Century & World Order

GVS Deep Dive   At the 2026 Munich Security Conference, U.S. Secretary of State Marco Rubio delivered one of the most consequential foreign policy speeches of the year. Framed as a call for Western renewal, his address went far beyond NATO reassurance — outlining a vision of sovereignty, industrial consolidation, and civilizational confidence that may signal the end of the post-Cold War global order.   Is this the beginning of a Second Cold War?   Is the West reorganizing around bloc competition?   Or are we witnessing the construction of a new world order? 

Saudi Arabia & Qatar caught Mossad agents planning false flag operations inside their soil to blame Iran

Tucker Carlson says Saudi Arabia & Qatar caught & arrested Israeli Mossad agents planning bombings in those countries. pic.twitter.com/6PUxWeUymu — Jackson Hinkle 🇺🇸 (@jacksonhinklle) March 3, 2026

What Iran, Russia & China just did is HUGE, War BACKFIRES on Trump

Danny Haiphong   Iran's shocking response to Trump's imminent attack is sending fear down the spines of the US military as war leaves them defenseless from Iranian missile fire says Mohammad Marandi. This video breaks down why this war is already backfiring on Trump. 

US-Israeli attack on Iran expands into GLOBAL WAR: EU & UK join, Canada supports, Gulf regimes hit

Geopolitical Economy Report   The US-Israeli war on Iran is expanding into a global conflict. The European Union supports it. The UK is letting Trump use British bases. Germany and France are involved. Canada backs it. Tehran has retaliated, in self-defense, hitting US military bases in Gulf countries. Ben Norton explains. 

This Is Why Iran Will DEFEAT The United States & Israel!

The Jimmy Dore Show    

Trump's war in Iran crushes US working class, enriches cronies

The Grayzone   The Grayzone 's Max Blumenthal and Aaron Mate discuss how Trump's cronies are exploiting the Strait of Hormuz crisis he instigated to manipulate markets while US consumers feel the pain. 

Iran War Collapses U.S. Neoliberal Economy

Glenn Diesen   Yanis Varoufakis is an economist, the former Finance Minister of Greece, and the author of numerous bestselling books. Yanis Varoufakis discusses the historical mistake of attacking Iran (again). 

A response to misinformation on Nicaragua: it was a coup, not a ‘massacre’

There is so much misinformation in mainstream corporate media about recent events in Nicaragua that it is a pity that Mary Ellsberg’s article for Pulse has added to it with a seemingly leftish critique. Ellsberg claims that recent articles, including from this website, often “ paint a picture of the crisis in Nicaragua that is dangerously misleading. ” Unfortunately, her own article does just that. It looks at the situation entirely from the perspective of those opposing Daniel Ortega’s government while whitewashing their malevolent behavior and downplaying the levels of US support they have relied on. Her piece is an incomplete depiction of what is happening on the ground, ignoring many salient facts that have come to light and which have been outdated by recent events. The following is a brief response to Ellsberg’s main points from someone who lives in Nicaragua and has observed the situation directly and intimately: https://grayzoneproject.com/2018/08/15/a-res...

Five reasons a war with Iran will mark the final fall of US empire

globinfo freexchange   1. The nature of war has changed dramatically since the Iraq war, due to technological developments. A ground invasion, especially against Iran, would be catastrophic for the US empire with unpredictable consequences, even if the regime-change mission successfully completed.  2. The Iran allies in the region are still active, despite their losses. This is connected with the first reason in a way because armed groups dispersed in the Middle-East and affiliated with Iran, can lead to an asymmetric, out-of-control conflict to the point where US forces may suddenly find themselves trapped in a wider deadly warzone with no exit. The new, relatively cheap technology of drones and small/middle range missiles, is easily accessible to these groups. The Ansar Allah group in Yemen, already demonstrated their ability to sabotage US military operations. 3. Iran is not Iraq. Not only due to its size and the fact that we live now in a very different period, but also be...