Friday, 11 December 2009

Wind up Anglo Irish Bank... save €7 billion?

Interesting idea in the Metro letters page the other day, of all places, from Ken who suggested that the Government could have made all the Budget cuts and more, simply by winding up bad bank Anglo Irish.

"Last week when all the attention was on talks between the Government and unions, the Department of Finance published estimates for 2010, in which €7 billion of taxpayers' money is expected to be spent on Anglo Irish Bank.

Simple solution: wind-up Anglo Irish Bank and transfer the staff not involved in the corrupt practices of the bank to work for Nama. The Government says it needs to save €4 billion, well wind up Anglo and we'll save €7 billion."

I'm no economist - and maybe that's not a bad thing in an Irish context- but does that suggestion not sound quite sensible?

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Anonymous said...

GDAY MR GM i think ihave a solution to this anglobank fiasco ,disney world is setting up a kiddie bank with funny munny,micky and the missus are almost irish and would love to buy a bank from the auldsod complete with leprechauns ,there would be no culture shock for the lads just business as usual,they may also be interested in a make believe central bank CHEERS

The Gombeen Man said...

Yes Mr BH, I believe that research is currently being undertaken which will conclusively proof that Mickey Mouse's great great great great paternal grandfather was born on Craggy Island.

Anonymous said...

I don't get this credit crunch stuff. Over here in John Bull land we've just spent £91bn on Northern Rock but have nothing to save the Redcar steel plant - but the good news is that the Indian owners get £90m for reducing pollution