Irish govt €10 billion bank recapitalisation

[bungee]

http://www.rte.ie/news/2008/1214/bank.html

Minister for Finance Brian Lenihan confirmed that money from the National Pensions Reserve Fund will be used in the recapitalisation programme

http://www.reuters.com/article/rbssF...40033020081214

Irish media reports on Sunday said that Anglo Irish Bank had proposed raising capital through a new share issue and had asked the government to underwrite it and buy any outstanding shares that investors did not take up.

Didn’t the Argentinean government just use a pension scheme to bail themselves out? I’m sure the Irish case is somehow different though...

[labasta]

Re: Irish govt €10 billion bank recapitalisation

http://www.rte.ie/news/2008/1214/bank.html



http://www.reuters.com/article/rbssF...40033020081214



Didn’t the Argentinean government just use a pension scheme to bail themselves out? I’m sure the Irish case is somehow different though...

Oh God, they've actually gone and done it. It was looking likely the last few days but how desperate is it getting? Ireland might not be able to get foreign funding to patch up its defict in 2009 the way employment is falling through the floor and the credit crisis being like it is.

They keep revising their budget. Even Lenihan said today in the independent that he was unaware of the downturn until July this year. If he is telling the truth then the poor government is in for some shock over the next 2 years. They won't know what has hit them. Who are their advisors?