Question:

Who will buy Ireland's banks?

by Guest2481 | 12 years, 9 month(s) ago

Who will buy Ireland's banks? This is the hottest story on the news these days that the Ireland banks are on sale. Can someone tell me the details?

Tags: banks, buy, irelands

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Guest6187

Ireland's central bank boss Patrick Honohan urges bidders to step forward. After playing a central role in bringing the country to its knees, Ireland's banks are up for sale. The central bank boss Patrick Honohan this week took the unusual step of urging bidders to step forward to take them off the authorities' hands. "They [the banks] are for sale as far as I am concerned. I have been an advocate for a number of years for small countries to have foreign owners for their banks," Honohan said. The aid package for Ireland is thought to include up to €40bn (£33.9bn) to rejuvenate the banking sector and carve off the most troubled loans. Cleaned up banks might be attractive to bidders accustomed to dealing with basket-case institutions. For an idea of the price, Bank of Ireland's current market value is less than €2.5bn – and falling sharply. So who might be interested?
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