Ireland’s media silenced over MP’s speech about Denis O’Brien

‘Catherine Murphy, an Independent TD (MP), yesterday spoke about the relationship between Ireland’s leading media owner, Denis O’Brien, and the Irish Bank Resolution Corporation (IBRC), the former Anglo Irish Bank.

Here is a key passage from her speech (edited only to make it explicable to people outside Ireland who have not followed the details of a long-run saga):

“We are now aware… that the former CEO of IBRC made verbal agreements with Denis O’Brien to allow him to extend the terms of his already expired loans…

I understand that Mr O’Brien was enjoying a rate of approximately 1.25% when IBRC could, and arguably should, have been charging 7.5%.

Given that we are talking about outstanding sums of upwards of €500 million, the interest rate applied is not an insignificant issue for the public interest.’

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