2 thoughts on “Osborne says…”

  1. I did wonder at the time why BOI decided to move c €10 Billion of deposits and relatively low risk mortgages into a new UK subsidiary under the auspices of a different regulator, with lower credit guarantees for depositors. The obvious answer is that they knew they were insolvent and that the UK subsidiary would be seen as safer.

    I wonder how long these negotiations about the UK bailout went on? “Give us our €10 billion from the post office back and we’ll loan you €7bn”?

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