FG must play hardball

AS FG sweeps to power it must now deliver on election manifesto promises, chiefly the unilateral burning of subordinate bondholders and similar debt, as well as loss sharing (min 50%) with senior bank bondholders.

Along with SF, independents and Labour — all of whom campaigned for unilateral action of one form or another — FG now have an overwhelming mandate to burn bondholders and, if necessary, the ECB.

It must also demand that the ECB fund the vast majority of the remaining bank bubble debt by a 30-year loan at next to zero interest (0.5%). Above all it must begin hardball negotiations with the EU/ECB on a firm footing demanding that the EU respect this unassailable democratic mandate of the Irish people.