… he has been in bailout talks with Irish for “several weeks”. Here. Guardian liveblog on our bailout here.
2 thoughts on “Osborne says…”
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”?
was it ‘recent weeks’ rather then several, tis different but still
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”?
was it ‘recent weeks’ rather then several, tis different but still
the record http://bit.ly/hmJmlP