Namawinelake on a major silence in the Irish mass media; much as the media acts to mystify the class power structures of ‘the markets’ it is of little suprise that journalism remains blind to the outcomes of such structures.
In fairness to the Irish Independent, there was a reference to the payment of €1.5bn to AIB bondholders today, appended to a news report which focussed on the NTMA selling bonds to pension funds; the Irish Independent wrote “Meanwhile, nationalised AIB will pay back €1.5bn in senior, unsecured bonds later today, in the latest controversial payment to bondholders in a bailed-out bank. The debt was not covered by a specific government guarantee, though it benefited from the Government’s decision not to “burn” senior bondholders in the State-controlled banks. Last night, the bonds were trading at face value; they have seen a sustained rise in prices as the repayment date approached. (Additional reporting Bloomberg)”
And that was it in Ireland’s old media.
RTE even managed to display its ignorance when it reported in the late afternoon, the occupation of the AIB building in Dublin’s IFSC district by protesters and said “They…
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