State ‘got a pretty good deal’: AIB chief

Sheehy likened the capital issue to a bucket with a hole at the bottom but with water continuing to flow in at the top.

14th February, 2009

Panic over? Hardly. Despite months of hand-wringing and laborious talks over whether government intervention was necessary and how many billions would be needed to prop up the banks, the markets took hardly any notice of Ireland’s €7 billion roll of the dice last week as AIB and Bank of Ireland were finally recapitalised.

Finance minister Brian Lenihan expressed frustration that the manoeuvre was overshadowed by the storm of controversy that followed last week’s...

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