Thursday, Jan 15, 2009
Another one bites the dust.
BBC News: Anglo Irish Bank is nationalised
The Irish Government has said it is to nationalise the Anglo Irish Bank.
The state had planned on pumping 1.5bn euros (£1.4bn) into the bank, but decided that recapitalisation was not the way to secure its future.
Ministers had been due to hand over the money in return for 75% shares with an annual fixed dividend being paid to the government of 10%
Posted by flintster1994 @ 09:03 PM (1335 views) Add Comment
15 Comments
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1. jack c said...
This Bank has been top of the moneyfacts savings selection for months
No notice accounts without bonus - AIB @ 4.55%
Notice accounts without bonus - AIB @ 4.65%
Fixed rate accounts - AIB @ 5% (1yr) & 4.50 (5yr)
A flood of fresh cash (much of it from UK depositors) and it still needs Nationalising - things must be getting worse in the banking world (check out todays share prices for verification)
2. icarus said...
Yawn. This has been inevitable for a long time. People were pointing out over a year ago that Irish banks were more exposed to property than Japanese banks were when they morphed into the undead nearly 20 years ago.
3. mark wadsworth said...
I won't exactly say *yawn*, but when we look back at this whole debacle in ten years time, we'll say, "Ah yes, the first signs of impending doom were when Northern Rock, Bradford & Bingley and the AIB were nationalised. Of course it snowballed from there, which is why ..."
Which is why what? How will the story end?
4. jackas said...
Which is why I'm sitting in my pants eating tinned beans.
5. gardeniadotnet said...
4. jackas said... Which is why I'm sitting in my pants eating tinned beans.
Now c'mon, you've always done that - stop trying to blame the credit crunch. lol
6. gardeniadotnet said...
5. gardeniadotnet said... lol
Laugh out Loud, not Land of Leather - sorry for any confusion.
7. flintster1994 said...
Nice one Jackass!
8. gardeniadotnet said...
3. mark wadsworth said... How will the story end?
Mark becoming apocalyptic??? The end really is nigh!!! Man the Lifeboat (Ark?) !!!
9. gardeniadotnet said...
Hey Mark, why was Noah p.doff?
A: He found that Mount Ararat was subject to Land Value Tax.
LofL
10. Aaron Mcdaid said...
mark,
Anglo Irish Bank is not AIB. AIB is short for Allied Irish Banks. So it wasn't the biggest Irish bank that was nationalised today.
11. mark wadsworth said...
@ Gardenia, obviously, as the waters rose and land became scarce, those who chose to occupy the dry bits had to pay a bit more in tax, those happy to live knee deep in water didn't pay much and the rest drowned.
I personally would rather pay a bit more tax than drown, but hey.
12. gardeniadotnet said...
Mark: chapter 3 ; verse 7.....
As the waters rose and land became scarce, those who chose to occupy the dry bits had to pay a bit more in tax, those happy to live knee deep in water didn't pay much and the rest drowned.
13. jonb said...
Perhaps I should mention that AIB is Allied Irish Bank, which is not the same bank as Anglo Irish Bank.
14. gardeniadotnet said...
Ireland nationalised Anglo Irish Bank after the share price of the country’s third-largest lender had collapsed in recent days amid reports of large-scale withdrawals.
Financial Times: Last updated: January 16 2009 08:20
The quietest bank run so far?
15. letthemfall said...
What will happen? I suppose the worst case is a govt default. I believe Ireland was highlighted recently, along with Spain and others, as a country that might.