Thursday 23 March 2017

Disguising the Anglo losses

THERE is only one reason why Anglo Irish Bank is going to be "reinvented" as a "mid-sized commercial bank" (Irish Independent, May 13).

This is so that the Government can disguise the money they have to pour into it.

If they can convince the EU Commission that Anglo has a viable business plan then the money they expend paying off its bad debts will not, as they should, show up on the critical day-to-day budgetary deficit figure reflecting the fact, we all know, that we will never see it again.

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