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IMF swoops to slash and burn Irish banking

  • 21-11-2010 03:45PM
    #1
    caseyann
    Closed Accounts Posts: 7,941 ✭✭✭


    Chinese and Asian funds may bankroll our bailout

    Can anyone tell me what this all means? I am getting very confused how Chinese and Asian banks would be bailing Ireland out.:confused:

    And what banks are there left if they close these ones?


    Listing AIB, Bank of Ireland, Irish Life & Permanent, Ulster Bank, Anglo Irish Bank and the EBS as in the firing line, the stockbroking chief is among many leading financiers who see a watershed in Irish banking, following the arrival of the IMF and European Central Bankers last week.
    "The Irish banking system is fundamentally finished," predicted the Friends First financial guru, who once worked for Bank of Ireland, adding that "for the future, we will have a State-run banking system. We must get back to a basic banking model -- intermediating between savers and borrowers".

    http://www.independent.ie/business/irish/imf-swoops-to-slash-and-burn-irish-banking-2429216.html


Comments

  • #2
    newmug
    Banned (with Prison Access) Posts: 3,571 ✭✭✭newmug


    Any solid proof for this? Its all just speculation as far as I can see.


  • #3
    2732
    Closed Accounts Posts: 4 ✭2732


    could be get the 2 brians up in court for treason.what do u think.


  • #4
    caseyann
    Closed Accounts Posts: 7,941 ✭✭✭caseyann


    newmug wrote: »
    Any solid proof for this? Its all just speculation as far as I can see.


    Speculation in Ireland must be taken seriously now,As was pointed out.All that has been heard from Fianna fail is speculation speculation and not true and not happening.And thus far every speculation they have fobbed off is happening.


  • #5
    ArtSmart
    Registered Users, Registered Users 2 Posts: 5,614 ✭✭✭ArtSmart


    was that lash or slash?

    cos if it's lash....


  • #6
    newmug
    Banned (with Prison Access) Posts: 3,571 ✭✭✭newmug


    caseyann wrote: »
    Speculation in Ireland must be taken seriously now,As was pointed out.All that has been heard from Fianna fail is speculation speculation and not true and not happening.And thus far every speculation they have fobbed off is happening.

    Yea but that bit specifically, about chinese money and rolling the banks into one, have you any proof? All the speculation is coming from unknowledgeable people in fairness. The IMF isnt even in operation here yet, they're just scoping out the situation in case we as them for help. Its not a foregone conclusion yet.

    TBH there'll be bull like this going on till mid-next year, when we actually will need money.


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  • #7
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    newmug wrote: »
    Any solid proof for this? Its all just speculation as far as I can see.

    Total speculation. Point is that Chinese businesses (both state backed and independent) have been investing (and buying out) in foreign companies for years, and will continue to do so. I know that there have been agreements made regarding investment by Chinese companies in Athlone, so it stands to reason that they'd be interested in other areas.

    As for taking over our banks, I suppose its possible, since they'd already be comfortable with the amount of corruption between government, banking, and regulatory bodies. ;)


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