15/01/2009
FG Oppose Recapitalisation Of Anglo Irish Bank
Fine Gael has said it will oppose the planned €1.5bn recapitalisation of the Anglo Irish Bank.
Following a special front bench meeting to discuss the economy by the party yesterday, the main opposition party have said the Anglo Irish Bank should be wound up.
Fine Gael Leader Enda Kenny said: "I am opposed to the Government's decision to give Anglo Irish Bank €1.5 billion as part of its plan to recapitalise the Irish banking system and to commit to 'make further capital available if required'.
"This Government is writing a blank cheque to a bank that has forfeited the trust of the markets, the regulatory system and the wider public."
On Monday UCD economist, Morgan Kelly said the Government guarantee to the Irish branches of the Anglo and Nationwide banks was "extraordinarily unwise", predicting the guarantees provided could be "called in the over the next 21 months".
Fine Gael have instead proposed maintaining protection for depositors and other creditors by fully nationalising the bank,
appointing new management and board to recover losses, or consider using the bank to purchase distressed developer loans. Fine Gael has also called for a pay freeze in the public sector, including increments and bonuses, until the end of 2010.
It says pay cuts should only apply to those earning over €100,000 a year.
(DW/BMcC)
Following a special front bench meeting to discuss the economy by the party yesterday, the main opposition party have said the Anglo Irish Bank should be wound up.
Fine Gael Leader Enda Kenny said: "I am opposed to the Government's decision to give Anglo Irish Bank €1.5 billion as part of its plan to recapitalise the Irish banking system and to commit to 'make further capital available if required'.
"This Government is writing a blank cheque to a bank that has forfeited the trust of the markets, the regulatory system and the wider public."
On Monday UCD economist, Morgan Kelly said the Government guarantee to the Irish branches of the Anglo and Nationwide banks was "extraordinarily unwise", predicting the guarantees provided could be "called in the over the next 21 months".
Fine Gael have instead proposed maintaining protection for depositors and other creditors by fully nationalising the bank,
appointing new management and board to recover losses, or consider using the bank to purchase distressed developer loans. Fine Gael has also called for a pay freeze in the public sector, including increments and bonuses, until the end of 2010.
It says pay cuts should only apply to those earning over €100,000 a year.
(DW/BMcC)
Related Irish News Stories
Click here for the latest headlines.
10 May 2012
New Name For Northern Bank
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
New Name For Northern Bank
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
31 January 2012
Director of Corporate Enforcement Retires
The Minister for Jobs has announced that Paul Appleby, the Director of Corporate Enforcement, is to retire at the end of February.
Director of Corporate Enforcement Retires
The Minister for Jobs has announced that Paul Appleby, the Director of Corporate Enforcement, is to retire at the end of February.
01 October 2009
Former Anglo Boss Will 'Not Be Spared'
The former Anglo Irish Bank (AIB) boss "will not be spared", according to the Green Party leader John Gormley.
Former Anglo Boss Will 'Not Be Spared'
The former Anglo Irish Bank (AIB) boss "will not be spared", according to the Green Party leader John Gormley.
01 September 2010
Coalition Denies Split Over Anglo Bailout
Fianna Fáil and Green ministers are denying speculation of a split over the future of Anglo Irish Bank. As ministers arrived for this morning's Cabinet meeting, the first since the summer break, all insisted they were unanimously agreed on resolving the situation at the bank at the least possible cost to the taxpayer.
Coalition Denies Split Over Anglo Bailout
Fianna Fáil and Green ministers are denying speculation of a split over the future of Anglo Irish Bank. As ministers arrived for this morning's Cabinet meeting, the first since the summer break, all insisted they were unanimously agreed on resolving the situation at the bank at the least possible cost to the taxpayer.
31 March 2010
Scheme Hands AIB Further €18bn Loan
In his much anticipated bank recapitalisation plan, announced yesterday, the Finance Minister has invited swathes of criticism after declaring a further €18 billion in loans for crippled bank, AIB.
Scheme Hands AIB Further €18bn Loan
In his much anticipated bank recapitalisation plan, announced yesterday, the Finance Minister has invited swathes of criticism after declaring a further €18 billion in loans for crippled bank, AIB.
-
Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.