Monday 27 February 2017

Shane Ross: IMF and State battle it out over nationalisation of BoI

SHANE ROSS

Frantic efforts by Bank of Ireland to stay out of state ownership were dominating the talks between the IMF and Ireland's negotiating team this weekend.

Insiders said that while AIB was now unable to escape full state control, BoI was fighting a rearguard action to duck the same fate.

All the banks are now required to provide 12 per cent capital ratios, necessitating either a further massive injection of state funds( triggering nationalisation) or burning bondholders in a debt/equity swap.

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