European Commission finally publishes Bank of Ireland restructuring decision

 namawinelake | February 3, 2011 at 10:12 pm | Categories: Banks | URL: http://wp.me/pNlCf-10Q

Money and Banking Statistics: December 2010
Well it’s taken Senor Almunia nearly six months but finally today the Decision N546/2009 approving the restructure of Bank of Ireland (BoI) has been made public, having been initially communicated to BoI on 15th July, 2010. There will be comment on the plan here tomorrow but for now it seems that BoI is required to substantially build up deposits and divest itself of BIAM (done), its life assurance business New Ireland, ICS Building Society, its stake in the Irish Credit Bureau, asset management business Paul Capital and the foreign exchange services business FCE in the US. Furthermore it must run-off certain UK loan books which are not identified.

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I started this Blog to get out of my system the absolute rage that I have for the corrupt politicians and their Banker Buddies. I’m an ordinary guy, married with kids, and have firm opinions of what is right and what is wrong. I’m not afraid to say it even when it makes me unpopular. I reproduce news all manner of articles, but will always confirm the source of the articles; this is a compliment to the source of such news pieces. But if you do not agree with this and you are the original author, I will take down any article when requested to do so. I do not assume that the author of the news articles share with my views, I include news articles to give readers another slant to my views or to illustrate what the mainstream news media say on the relevant topic. The opinions expressed are my own but I do not accept liability for them, If I have offended you or made a factual error please put on record the truth by leaving a comment. In addition, my thoughts and opinions change from time to time...I consider this a necessary consequence of having an open mind. This weblog is intended to provide a semi-permanent point in time snapshot and manifestation of the various memes running around my brain, and as such any thoughts and opinions expressed within out-of-date posts may not the same, nor even similar, to those I may hold today. For the record I am currently an Independent political activist and am not affiliated to any political party
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