AIB

The government is putting another €3.7 billion into AIB. The result of which will be that AIB will be 92.8 % government owned when Bank Zachodni in Poland is sold. Obviously, what the quick enactment of the Credit Stabilisation Bill and the High Court Case to-day suggest to me is a run on AIB’s deposits. I am not sure how to interpret the delisting of the shares from the ISEQ and London Stock exchanges to the Enterprise Securities Market. Maybe it’s SE rules.

I expect that in the fullness of time with prudent management the state will ultimately make a profit from AIB. If AIB makes €300 million per year trading in future, it will ultimately repay the state. All right, it will take many years but patience is a virtue.