Warning on banks' bill to taxpayers

[BoyRacer]

Warning on banks’ bill to taxpayers - Eamon Quinn -> tribune.ie/business/news/art … taxpayers/

The government will have to change the law and raid the €15.5bn uncommitted money left in the state pension pot to help cover the mounting bill to refinance the banks, experts have warned.

**The warnings come as the IMF in Washington is preparing to update its forecast for the final bill taxpayers here will face to complete the refinancing of ailing banks.
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The Department of Finance said that the law would be changed if it decided that the National Pension Reserve Fund (NPRF), which has already injected €7bn into AIB and Bank of Ireland, would be used to put money into non- stock market-listed banks, such as Anglo Irish, Irish Nationwide and EBS. By law, the NPRF can only invest in stock-market or exchange-traded companies and bonds.

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