Noonan describes AIB €3bn disposal of Polish unit as “unfortunate”
One of the remarkable unappreciated facts about Ireland since the banking crisis, is the vast sell-off of public assets, sell-offs for the most part overlooked and unreported. NAMA is disposing of an average of €500-750m of assets a month every single month and state-owned banks, IBRC, AIB/EBS and to an extent Bank of Ireland are also disposing of billions per year. How many of you heard about the sale by AIB of €400m of Spanish loans in February 2013?
But you can bet there will be heated debate about the sale of the new National Lottery licence, the retail part of Bord Gais, the harvesting rights at state forestry company Coillte and whatever part of the ESB the Government eventually decides to sell, even though these sell-offs have a relatively modest financial impact.
And because the sale of NAMA and bank assets largely goes unnoticed, there is little or no…
View original post 427 more words