AIB Bank Ireland Now Owned By The Taxpayer

AIB Bank Ireland Now Owned By The Taxpayer, originally uploaded by infomatique.

The news gets worse with each passing day.


On the 31st of March the Irish Central Bank published crucial stress tests on the Irish banks, which show that €24bn of capital will need to be raised by the banks to help them cope with potential losses.

The figures are only appropriate in an 'adverse and unlikely' situation, according to Central Bank Governor Professor Patrick Honohan.

Mr Honohan said:

There would be majority state ownership in all banks.
This had proven to be one of the costliest banking crises in history.
If the stresses predicted are realised, the total loss during the banking crisis will be in excess of €100bn.
The measures outlined did 'not score highly on fairness.
Ireland is effectively starting from scratch on banking.


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