Asking the Irish people to repay unsecured bondholders is akin to asking my neighbours to pay for my mortgage

22Jan12

 

On Friday I tweeted that it made as much sense for the Irish people to repay unsecured bond holders as it did to ask my neighbours to repay my mortgage. East Coast Radio rang me and asked me to repeat this on air. I did and ranted in general. Then I discovered Vincent Browne’s televised question of the Troika. Is there a movement happening? Are people starting to ask the same question? Does the emperor have any clothes?

Today, I wrote to the Irish Times asking the same question. I wonder if we, the people, will be heard.

Sir, –

Vincent Browne led the way last week when he asked the question of the Troika on behalf of the ordinary people of Ireland: the taxi man, the teacher, the postman, the plumber, the unemployed, the person in the street. Why on earth are the Irish people repaying the debt to unsecured bondholders on behalf a defunct bank? Why?

It is the same as my asking my neighbours to pay my mortgage. You may have heard of me. I’m the divorcee who sold her house on youtube, only the banks stopped sale. I have a debt of one million. I did share it with my ex husband, but he went bankrupt in the UK and gave all the debt to me. I am fighting hard on so many fronts to try and extricate myself from the mess that I find myself in, but I have never yet asked my neighbours to bail me out.

Maybe I should insist my neighbours bail me out, it’s the same logic after all.

Yours etc

Jillian Godsil

Raheengraney House

Co Wicklow


 http://www.telegraph.co.uk/finance/financialcrisis/8973421/Ireland-at-the-end-of-the-road.html

http://www.youtube.com/watch?v=1Vo6VzQddi0&feature=share



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