The Minister for Finance Michael Noonan has said the government has not yet ruled out asking the EU for a deal relating to Ireland’s current banking debts.
Although Mr Noonan believes that the State would probably receive more money if they decided to sell its banking shares to private investors instead of requesting a deal with Europe’s top bodies. Mr Noonan has claimed that Ireland is on course to get back all of the €34 billion it invested in AIB, Bank of Ireland and Permanent TSB. However he released a statement last night stating that it is more likely to come from private investors than the EU’s bailout fund.
Mr Noonan said: “It’s not off the table but government policy is to recover as much of our investment on behalf of the tax payer and at present it looks as if going through the market for a competitive tender, like we did with PTSB, gives us the best return.”