TG we have a steady pair of hands steering the financial ship the sooner gov gets a return for the hard pressed tax payer the better but we still have to be prudent . .He is Min Noonan s piece “The overarching objective of the banking strategy I set out in March 2011 was to have a functioning, stable banking system operating in support of the Irish economy and to reduce the cost of the banking bailout to the Irish taxpayer.
Our strategy is working. We now have two strong universal banks, AIB and Bank of Ireland, with Permanent TSB operating as a challenger bank focusing specifically on retail and consumer banking. The relationship between the banks and their customers is improving and the taxpayers’ shareholdings in the banks are now valuable assets.
However, the cost the taxpayer has incurred to secure this has been unprecedented. Maximising the banks’ value and ultimately the return of cash to the taxpayer is a key priority in 2015. Today I have appointed financial advisers to ensure we optimise the return on AIB, where more than €20 billion of taxpayers’ money has been invested.”
Full op-ed here: http://www.irishtimes.com/opinion/michael-noonan-strategy-for-dealing-with-banks-is-working-1.2062113