What the bailout is costing Irish taxpayers
Anglo – €29.3 billion (including €22.9 already committed by Government) – could go to €34.3bn in severe worst-case
AIB – up to €6.5 billion (including €3.5 billion already invested by Government) A Basket case
BoI – €3.5 billion (doesn’t need any more capital from Government)(So it says but can you belive them I don’t!)
INBS – €5.4 billion (including €2.7 billion already committed by Government) why is there no prosecutions for this fraud?
EBS – €350 million (further requirement for €440 million and possibly more which is expected to come from its new buyer)
can anyone belive any buyer will stump up this kind of cash now?
Irish Life & Permanent – doesn’t need any capital; didn’t engage in property development lending
No ,just helped Anglo Irish Bank to defraud its own investors and customers and Irish Life& permanent is now screwing its own customers now
Total: €45 billion – could go to €50 billion in Anglo severe stress case
Of this, some €35 billion of this is debt and is unlikely to be recovered – the €6.5 billion to be invested into AIB and €3.5 billion already invested into Bank of Ireland is regarded as an investment by the National Pension Reserve Fund, the €24 billion sovereign wealth fund held by the Government. The State is likely to make this €10 billion back and could make a profit by selling down the shares over time.
The figures relate to the State’s investments in the banks. AIB’s capital requirement is €10.4 billion of which it has raised €2.5 billion from the sale of its stake in Poland’s Bank Zachodni WBK, leaving €7.9 billion to raise – some of that will come from the sale of the 22.5 per cent stake in US bank M&T, the sale of its UK business and further (possible) investment from existing shareholders and institutional investors. The Government will underwrite the sale of new shares.
What about the dierivitave losses that the Banks are hiding Bank of Ireland and Allied Irish Bank ?