davy are shitehawks. They started with their answer and worked back. Their analysis is weak. Remember these are the same bunch saying the banks were buys little over a year ago. Davy have more to gain from the taxpayer getting stiffed.
You are sooooo right, 4 bill might be a first instalment but 4 bill in total? I think they’re testing the water and will review that upward by a multiple over the next few months due to extenuating circumstances mind you.
Typo there?, a small matter of a missing zero perchance?A loss of ten times that would be doing well,the Irish taxpayer is likely to lose 35bn as a result of NAMA’s generosity according to the IMF,and a whopping 25 bn on Anglo alone.So how do you come to a figure of 4bn?Where is the journo’s criticism or response to the report?
The article is total garbage and I can only assume it has been written to placate readers of the rag it is printed in.
If we did this then NAMA would be looking for a 50% haircut at least. The state guaranteed the banks and so can probably not take this hit up front. By applying a smaller (less realistic) haircut we spread the pain over a decade or two.
I still have plans to move back to Ireland with my family (and perhaps even start a business) but I am not stepping foot in the place until I see how we (or should I say you?) plan to pay for this.
Not quite re eu. As I understand it the EU were thinking of various ABS notes etc that would suffer from marking to market but were unlikely to pay losses. This is where they came up with this economic value. It was the gombeens in government that are trying to bend this to suit their needs.
I don’t understand everything in that Davy’s statement but I think they are saying that in order for the banks to survive as independent outfits the state can only get a discount of up to 26% in one case, 18% in another
Lets ignore the actual value of the ‘assets’, how can the people of Ireland make your life easier Mr. Bankster.
Its a bit like a bankrupt houseowner saying to the bank that in order for me to have an Indian takeaway every few nights and a good social life, ye can only charge me X every month for the mortgage, ignore the amount of money Ive borrowed, its all about my comfort level.