Wednesday 24 May 2017

Laura Noonan: Bad loans remain the issue at core of toxic money pit

Laura Noonan

Laura Noonan

IT was a gallant effort, but Finance Minister Brian Lenihan's attempts to bring "certainty" to the Anglo Irish Bank debacle were always going to crumble at the first hurdle.

For, unpopular as it is, there can be no certainty on the final cost of Anglo or the timeframe for any wind-down. We simply don't know. And we can't be expected to.

Anglo Irish Bank began the year with a €72bn loan book -- €36bn of troubled developer debt that's being shovelled into the State's bad bank NAMA and €36bn of "other" loans.

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