Friday August 7, 2020

Bank bailout cash to be used to fund the state

Savings on the projected cost of the bank bailout are likely to be used to bolster the government’s financial position and postpone a return to the bond markets.

14th May, 2011
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Savings on the projected cost of the bank bailout are likely to be used to bolster the government’s financial position and postpone a return to the bond markets.

The government believes that the banking bailout will cost some €10 billion to €11 billion less than the €35 billion provided in the EU/ IMF agreement.

According to sources familiar with the process, it wants to use these savings to improve the exchequer’s position and...

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