Anglo bondholders to be repaid in full
Sir, – You report (Front page, December 19th) that some junior bondholders in Anglo Irish Bank are to be repaid in full.
It seems they resisted government “pressure” to accept a “haircut” and the courts adjudged that they had the Constitution on their side.
I’m a retired public servant who worked, under contract, for this State for over 30 years. My salary and my pension were reduced by fiat, namely Fempi – the Financial Emergency Measures in the Public Interest, and this reduction has continued to this day.
I accepted this reduction as I believed it was, indeed, in the public interest. What sort of Constitution is it that protects people who invested unwisely, lured by potentially high returns, while allowing the long-term penalisation of those who served the State? – Yours, etc,
Dr KEVIN T RYAN,