independent.ie/business/iris … 14864.html
Lenihan set to reveal the great bank recovery plan
Will a new ‘state of the nation’ speech be enough to resurrect our battered economy, asks Louise McBride
THIS Tuesday, the Finance Minister, Brian Lenihan, is expected to spill the beans on how much more money the Irish banks need to get back on their feet.
In his “state of the nation address”, Mr Lenihan will also reveal how the banks will go about raising this capital. It looks like Allied Irish Banks (AIB) will have to raise at least €4bn while Bank of Ireland (BoI) will have to muster up between €2bn and €3bn. This is no mean feat. Particularly when AIB and BoI have already got €3.5bn of taxpayers’ money each – while state-owned Anglo Irish Bank, which has devoured €4bn of taxpayers’ cash, could need another €9bn to keep afloat.
Nobody denies that the banks have milked it during the good times --and that a litany of errors on their part has largely brought this economy to its knees. But we need strong banks to have a strong economy – so has the Government done enough to get our banks back on their feet?
…(cont’d)
Strong Banks for a strong economy? Bollox to that. What utter misleading media junk bullshit.
This is the Crisis Of Corruption.
We’ll get dead rotten banks for a corrupt political system who love a bit of necrophilia and the odd time share in pedophile
Unfortunately there is very little mystery about how the banks will raise this capital.
Larry
March 28, 2010, 1:57pm
4
dirtysquatter:
Sunday March 28 2010
In his “state of the nation address”, Mr Lenihan will also reveal how the banks will go about raising this capital.
Unfortunately there is very little mystery about how the banks will raise this capital.
Nor about the “State of the Nation”.
Hmmm Banks being controlled by governments?
Whose winning Xfactor?
Its all I watch since they stopped showing American Gladiators.
Yeah, but plan A was to hope it would all go away. Everything was posited on that. There wasn’t ever a plan B.
jmc
March 28, 2010, 5:03pm
8
Trying to cash out the insiders, trying to bury the evidence of massive fraud and kickbacks, and desperately hoping that something, anything, comes up on the international scene so that they can either defer making any difficult decisions as long as possible or else have the whole thing taken out of their hands.
The last one is probably the most important motivation by this stage. Where Greece goes Ireland will follow soon afterwards.
Yeah, in football terms, the Irish gov. is playing to be substituted. Has been since before the last election…
A slow politician. Never!