Socialist Worker

The banks that are holding Ireland to ransom

Issue No. 2228

The main bondholders in the Irish economy are:

  • Royal Bank of Scotland £4.3 billion
  • Allied Irish Bank £3.5 billion
  • Bank of Ireland £1 billion
  • Credit Agricole £787 million
  • Danske Bank £555 million
  • HSBC £508 million
  • BNP Paribas £483 million
  • Groupe BPCE £416 million
  • Societe Generale £384 million
  • Banco BP1 £345 million

The Royal Bank of Scotland is owned by the British government—but the biggest bondholders are Irish Banks.

Working people have put billions into Allied Irish Banks and the Bank of Ireland, which then lent the money back to the government, but a higher interest rate.

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