Tables turn as 'favourite' bank leaves auction with nothing
Published 25/02/2011 | 05:00
A FEW short days ago, Bank of Ireland was basking in the glow of being Fine Gael's favourite child and AIB was consigned to being flogged to the highest/earliest bidder.
Last night, though, the scales of fortune were very much reversed as Enda Kenny's favourite bank emerged from the deposits auction with nothing and AIB romped home with Anglo's €8.6bn deposit pile.
The National Treasury Management Agency (NTMA) isn't prone to sharing its decision-making process with the Fourth Estate, so the reasons behind AIB's surprise win are the stuff of speculation.