IRLBF---BKIR TRADING IN OTC IN NEW YORK (fka )

[biginvestors]

IMO RALLY NEXT WEEK for Bank of Ireland

Minister for Finance Michael Noonan has played down the possibility that Ireland may apply to the euro zone’s ESM in order to recoup some of the money the State put into AIB and Bank of Ireland, saying there may be other options available.
Speaking in Luxembourg this morning, where he will chair a meeting of all 27 EU finance ministers, Mr Noonan pointed out that the two pillar banks may have increased in value by the time the ESM direct recapitalisation instrument is available.
“I don’t want to tie the future of the banks or the Irish banking system solely to the ESM,” he said. “We have two banks that will be in profit next year, we have two banks that will be operating and having practically a monopoly in a growing economy. That’s value and the markets will see there’s value there, so if we’re looking for potential purchasers we may not go down the ESM route, but it’s vital that we have the option still in place.”

link :
http://www.irishtimes.com/business/economy/europe/noonan-plays-down-likelihood-of-applying-to-esm-to-recapitalise-banks-1.1437995