Sunday April 5, 2020

The ‘bad bank’ solution to debt gains momentum

The government’s recapitalisation initiative, designed to provide a buffer for billions of euro to be written off on bad loans, is in danger of becoming an expensive sideshow

21st March, 2009

Later this week, Bank of Ireland shareholders will meet to rubber-stamp the €3.5 billion government injection to recapitalise their ailing institution. Like their peers in AIB, who will meet for the same reason a few weeks later, they will have little choice.

But the exercise has already taken on the air of being an academic one. The notion that it is the shareholders who are calling the shots for the country’s two biggest banks has...

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