Oli Rehn tells parties ‘senior bank debt not on the agenda’

FINE GAEL and Labour hopes to recoup billions of euro from Anglo Irish and Irish Nationwide Building Society (INBS) bondholders received a setback from the EU’s economics commissioner, Olli Rehn yesterday.

It came amid warnings from economics experts that any such haircut could see depositors losing some of their money also.

He told the parties, who had campaigned on the basis of changing the EU/IMF €6.7 billion loan agreement, “the issue of senior bank debt is not in the cards or on the agenda concerning Ireland”.