canicemcavoy
Registered User
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From the IT yesterday:
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From The Phoenix's Moneybags a few weeks ago:
Assuming that AIB do not raise the additional €5bn, what happens then? I'm curious as I hold deposits there.
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AIB HAS taken one step on the long path to raising the €7.4 billion it requires by the end of the year to boost its capital reserves but there’s still a mountain ahead.[...] The €3.1 billion sale of the Bank Zachodni WBK, the bank’s self-professed “jewel in the crown”, and a 50 per cent share in BZWBK’s asset management firm, has generated a tranche of that capital. This leaves a €4.9 billion shortfall....
From The Phoenix's Moneybags a few weeks ago:
However, with Irish sovereign debt now topping €80bn (adding Nama's total brings the soverign debt up to over €120bn), the country is in no position to inject an additional €10bn into AIB, never mind the €10bn Brian Lenihan is currently determined to pour down the Anglo Irish Bank drain. If both of these bail-outs are carried out, the national debt will be approaching 100% of GNP. As any economist will explain, at that stage the interest charge will be so large that the economy will be crippled and remain so without a massive debt forgiveness programme.
Assuming that AIB do not raise the additional €5bn, what happens then? I'm curious as I hold deposits there.