Latest Anglo surgery completed
Rediscovering his “mandate” mojo on Election Eve, Brian Lenihan has moved virtually all of Anglo’s deposits and NAMA bonds to AIB. An impolite question: where exactly is AIB getting the €3.5 billion in cash that it’s paying for the NAMA bonds? Yes, it just sold the Polish operation to Banco Santander but that cash was supposed to be for shoring up its own capital, not for transfer to Anglo. And what will Anglo do with that cash? One more thing. The Dept of Finance FAQ on the move says –
The continued and on-going existence of Anglo and INBS has been a factor in the destabilisation of the Irish banking system in recent years.
Now you tell us?