On a Sunday morning in October, Simon Kelly sat in the breakfast room of Dublin’s Morrison Hotel, looking eager to chat. Simon, 38, and his father, Paddy Kelly, 66, were once among Ireland’s most audacious real estate developers. During the boom years, they borrowed about 700 million euros ($950 million) from Anglo Irish Bank Corp. to buy golf resorts and build hotels.
Gerry Adams , president of Irish nationalist party Sinn Fein, is selling a clear message ahead of Ireland’s election this month: burn the bank bondholders and send the International Monetary Fund home.
Ireland is squeezing the Roman Catholic Church to hand over cash and real estate toward a 1.4 billion-euro ($2 billion) child-abuse bill amid the bitterest stand-off yet seen between the Vatican and the government.