'Good/bad bank' plan loses support
Thursday September 02 2010
The Government now favours a gradual wind-down of Anglo Irish Bank, rather than the so-called "good bank/bad bank" model proposed by the bank's management, the Irish Independent understands.
Discussions involving the Department of Finance are now focusing on the gradual wind-down of the bank.
The Government has cooled on the idea of splitting the bank in two and putting 20pc of its assets into a new entity, but no final decision has been made by the EU Commission.
However, the Government remains totally opposed to any short-term closure of the bank and is determined to honour all obligations to depositors and bondholders, senior sources have said.
A total wind-down of the entire loan book now looks to be on the cards, which would rule out the possibility of establishing a new business bank from the wreckage of Anglo.
At present, Anglo chief executive and chairman Alan Dukes wants to put 20pc of the bank's assets into a new entity, with the rest of the loans being run down over time.
Anleihe heute weiter unter Druck. Wird interessant ob es bald ein Rückkaufangebot gibt. Die Voraussetzungen dafür wären nach den gesunkenen Kursen, den negativen News und der großen Unsicherheit günstig, je tiefer der Kurs, desto besser die Aussichten für eine hohe Annahmequote bei einem interessanten Kursniveau.
