Tribune: Anglo needs 5.7 bn more to start lending

So that will be 9.7 bn, excluding NAMA overpayments.

How much profit did Anglo make over the last ten years?

Doesn’t it also owe the Irish central bank €10bn?

Is it as little as that?

There are a couple of aspects - one relatively transparent and the other not - the first is repo at the ECB. This is stored at the local NCB (National Central Bank) and is a liability of the state to some degree (i.e. the state is responsible for keeping the NCB solvent as far as I can see). The second is the government’s cash pile that is on deposit at the Irish banks. How much of this is at Anglo, I’ve no idea. It is, eh, “commercially sensitive”.

I was listening to an interview with Alan Dukes and the impression I got was there were separate to the ECB repo’s.

He said the Irish Central Bank would get repaid when Anglo started to make money.

WTF :open_mouth:

I feel a sense of perspective is needed here.

Adjusted for population, this would be equivalent to a UK bank requiring €85bn or a US bank requiring €400bn to restart lending. €400bn is around half the size of Paulson’s bailout. Or to put it another way, Anglo on its own is proportionately worse - around three times worse, in fact - than AIG.

Oops, perspective makes the figures even scarier. :open_mouth:

We could have invaded a small country with all this money :wink:

I have said all along we should have bailed out Iceland. It really would not have made us much worse off and we could have got our hands on their natural resources.

Give me 5.7B and I’ll lend :slight_smile:

Cannot figure Dukes - what is going on , he is bright enough to know most of the statements he has made in past 3 months are complete make up. Does he need the money ? Does he need the limelight ?

I mean Dukes talking about Anglo repaying money is like the captain of the titanic apologising for the slowdown after it hit the iceberg and declaring that normal speed will be restored forthwith.

that business needs to be let go to the wall

Without bothering to adjust for inflation…not enough!
2008 784m
2007 1243m
2006 850m
2005 615m
2004 504m
2003 346m
2002 261m
2001 195m

for prior to that see the following

Thank you for that. So Anglo is likely to be loss-making over its entire existence by the time this is over.

Has that 9.7Bn simply been shovelled down a hole though - or is any of it salvageable?

Well only 4 bn has been shoveled so far. I reckon it’s gone.

If the EU decide to rule against further capital injections, how long would a wind down take? Surely the other Irish banks could not take on any of the Anglo non-Nama loans given their capital issues.

Anyone familiar with the David Warner -photographer character from
The Omen may recall the way photographs he took of individuals had this shadow spear image through their bodies…oooooooooooooooooo … 044893.jpg

Edit : Mrs Lawyer says it doesn’t look like a spear of destiny - just Seanie over-excited by his enormous balance sheet.

Wait, don’t tell me - it’s commercially sensitive. As owners of Anglo Irish Bank, surely the Irish taxpayers are entitled to know EXACTLY what use our tax euros are being spent upon by Anglo Irish Bank. More to the point, what individual names or what companies are the largest benefactor customers of the bank as result of state rescue funding. Now that would be a quality whistle blowing.

I do not get the Alan Dukes situation at all - the picture does not fit, not one bit. Can’t put my finger on it :angry:

spear of destiny ^^

Its only a small prick nothing to worry about … he compensated how much!? :open_mouth: