Saturday September 26, 2020

The game is up at AIB

Nothing less than the resignation of AIB chief executive Eugene Sheehy and his board will be acceptable after the economic shambles the Irish taxpayer has been left to deal with

11th April, 2009

Less than six months ago, Eugene Sheehy, chief executive of AIB, said the bank would rather die than raise equity. Last week, finance minister Brian Lenihan announced the establishment of a new national asset management agency (Nama), which will purchase somewhere between €25 billion and €30 billion of AIB’s development and commercial property loans.

The ultimate losses likely to be incurred by Nama in years to come will be borne by the taxpayers...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 8 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago