The Government has today decided, having consulted with the Board of Anglo Irish Bank Corporation plc (“Anglo”), to take steps that will enable the Bank to be taken into public ownership. This decision has been taken after consultation with the Central Bank and the Financial Regulator which has confirmed that Anglo Irish Bank remains solvent.
Following on from Government Decisions of 28th November and 14th December on the recapitalisation of financial institutions, the Minister for Finance has this evening announced specific decisions in relation to three major financial institutions. Commenting on the announcement;
The Taoiseach said:
18.12.08The Minister for Finance, Mr Brian Lenihan, TD, today welcomed the appointment of Mr Donal O’Connor as the new Chairman of Anglo-Irish Bank
The Minister for Finance, Mr Brian Lenihan, TD, today welcomed the appointment of Mr Donal O’Connor as the new Chairman of Anglo-Irish Bank to replace Mr Sean FitzPatrick. The Minister noted that this appointment was made following consultation with him.
The Government has today decided on an approach to the recapitalisation of credit institutions. The Government’s objective is to ensure the long-term sustainability of the banking sector in Ireland and to underpin its contribution through the availability of credit to individuals and businesses in the real economy.
04.12.08Minister for Finance announces option for members of Defined Contribution occupational pension schemes to defer annuity purchase
Minister for Finance announces option for members of Defined Contribution occupational pension schemes to defer annuity purchase
Directors for the Credit Institutions in the Government Guarantee Scheme
The Minister for Finance, Mr. Brian Lenihan T.D. has today named the panel from which the six major banks and building societies covered by the Government Guarantee Scheme are to select additional Board members. The following individuals comprise the panel:
Mr Declan Collier
Commenting on the End-November Exchequer returns, the Minister for Finance said:
“Today’s Exchequer returns show that overall government spending is close to what was originally planned.
However, the latest tax returns are poor and they reflect the severity of the current economic slowdown which has accelerated considerably both at home and internationally in recent times.
The Minister for Finance, Mr Brian Lenihan TD, welcomes today's initiative by Bank of Ireland to launch a new Business Support Fund for small to medium enterprises. This development is consistent with the type of initiatives discussed by the Minister with a number of banks at their meetings last Friday.
On 28th November 2008, Mr. Brian Lenihan T.D., Minister for Finance, stated:
27.11.08The Minister for Finance, Mr Brian Lenihan, TD, today met Mr Plutarchos Sakellaris, Vice-President of the European Investment Bank
The Minister for Finance, Mr Brian Lenihan, TD, today met Mr Plutarchos Sakellaris, Vice-President of the European Investment Bank, who is in Dublin as part of the normal ongoing contacts with various institutions in Ireland and to sign a number of loan agreements with relevant bodies.