I think this article is a useful summary:
http://www.rte.ie/news/2010/0915/banking.html
Basically the €24bn adds up as follows:
So my take is that we have committed €35bn to date.
Approx €27bn has gone to Anglo & Irish Nationwide with no expectation of any return and potentially up to another €10bn required if S&P are correct.
I'd be more optimistic of getting some return on the €7bn gone into AIB and BOI with hopefully no further capital required, though there has been talk of them needing more (It's difficult to tell at times whether commentators are including the €7bn in additional requirement estimates, they are probably being deliberately vague.
All in all the cost could range from the €35bn already committed (including the €7bn into BOI & AIB) up to maybe €45bn in a pessimistic scenario.
Any thoughts?
http://www.rte.ie/news/2010/0915/banking.html
Basically the €24bn adds up as follows:
- €7bn invested by the National Pension reserve fund in AIB and Bank of Ireland
- €4.2bn spent supporting Anglo Irish Bank and taking Irish Nationwide and EBS into State ownership
- Promissory notes with €10.3bn were issued to Anglo Irish bank, €2.6bn to Irish Nationwide and €250m to EBS
So my take is that we have committed €35bn to date.
Approx €27bn has gone to Anglo & Irish Nationwide with no expectation of any return and potentially up to another €10bn required if S&P are correct.
I'd be more optimistic of getting some return on the €7bn gone into AIB and BOI with hopefully no further capital required, though there has been talk of them needing more (It's difficult to tell at times whether commentators are including the €7bn in additional requirement estimates, they are probably being deliberately vague.
All in all the cost could range from the €35bn already committed (including the €7bn into BOI & AIB) up to maybe €45bn in a pessimistic scenario.
Any thoughts?