Monday 16 September 2019

Time to sell more bank shares - Hayes

Fine Gael MEP Brian Hayes
Fine Gael MEP Brian Hayes
John Downing

John Downing

The time is right to claw back more taxpayer losses from the 2008 bank crash by selling off more State shares in AIB and Bank of Ireland, Dublin Fine Gael MEP Brian Hayes has urged.

The former junior finance minister has called on the Government to change the deal with Fianna Fáil to give Finance Minister Paschal Donohoe more flexibility to take advantage of good market conditions for the Irish banks.

Mr Hayes said that under the confidence and supply deal that underpins the minority coalition, the Government is limited to a 25pc share sale of any bank before the end of 2018.

"The time is right to look at another sale of Government shareholdings in the Irish banks. We now have an opportunity to get a good return for Irish taxpayers on a share sale," he told the Irish Independent.

Mr Hayes said the share price in both Bank of Ireland and AIB has recovered from the shock of Brexit. The Irish economy is growing and the shares were now an attractive proposition.

Irish Independent

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