Noonan has fresh plan for bondholders

THE Government will seek to impose significant losses on the senior bondholders in Anglo Irish Bank and Irish Nationwide, Finance Minister Michael Noonan has said.

Up to now, the Government has been prevented by the EU and ECB from burning senior bondholders in any of the financial institutions.

However, Mr Noonan said he now intends to bring a fresh plan to Europe to impose a “haircut” on around €3.5 billion in senior unsecured bondholders at Anglo and Nationwide.