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Ireland Open To Talks On Senior Debt - Report

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http://uk.reuters.com/article/idUKTRE69B05M20101012

Ireland would back talks between its nationalised banks and senior bond holders, the country's finance minister told the Financial Times on Tuesday, adding he still opposed a default on senior debt.

Ireland's financial regulator last week warned against imposing losses on senior bond holders hit by the collapse of Anglo Irish Bank ANGIB.UL and Irish Nationwide IRNBS.UL, but said that did not rule out talks aimed at achieving an agreed deal.

"Can there be discussions between banks and senior bondholders for mutual advantage? Of course there can be," Brian Lenihan told the newspaper while on a roadshow in New York.

"(I would encourage them) if it is for mutual advantage, yes."

The newspaper quoted Lenihan as saying any decision was for the banks themselves.

"I am a little concerned by the concept of negotiations. Anglo Irish Bank is being run on commercial lines, not political ones, and they have to make commercial decisions," he told the FT.

So they are looking for a polite agreed default/restructuring then?

Unless the Irish economy suddenly recovers it's hard to see how the banks will survive unless of course there's a big check from the German taxpayer coming.

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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