Today, buried in an obscure report, news emerged that a few weeks ago, June 26th 2015, very quietly, Ireland's NTMA bought a Promissory Note bond from the Irish Central Bank with €500m of borrowed money, money on which we are paying interest and money which we'll have to repay at some future date; the report noted that the NTMA then destroyed/cancelled that bond.
June 26th 2015
IRELAND DESTROYED €500,000,000 OF BORROWED MONEY
You won't read it in any headline, not in those stark terms anyway, that's for sure; it's a truth this government wants buried, a truth we in the 'Ballyhea Says No' campaign are trying to expose.
The ultimate cost? For the full €31bn, upwards of €80bn but could be a lot more, depending on market conditions when the sales occur. For a debt that is not ours, was never ours, will never justly BE ours.
For those who aren't aware, here is the full schedule of destruction:
2014 Two bonds, €500m each, sold/destroyed €1.0bn
2015 Bond of €500m sold, money destroyed €0.5bn
2016-2018 Three years @ €500m/yr €1.5bn
2019-2023 Five years @ €1,000m/yr €5.0bn
2024-2031 Eight years @ €2,000m/yr €16.0bn
2011 Per original Promissory Notes, destroyed €3.1bn
2012 Bond issued to cover P Note, €500m sold €3.46bn