Irish Bank Bailout breakdown

[Raging Bull]

I remember when the politicians were giving all our money away to Banks etc... that about 7 billion was to be targeted for distressed consumers for the purposes of debt relief. Can anyone find any link to it as it appears to be airwashed from history.

 

[Brendan Burgess]

I don't remember that.

Don't forget - we gave the money to the depositors and the bondholders in the banks. Not to the shareholders or to "the banks".

Brendan

 

[Purple]

I remember when the politicians were giving all our money away to Banks etc... that about 7 billion was to be targeted for distressed consumers for the purposes of debt relief. Can anyone find any link to it as it appears to be airwashed from history.

I remember when they borrowed money to replace the savings and deposits of members of the public which the Banks had lent to developers who had subsequently gone bust. Rather than calling it "Borrowing from future generations to replace the lost savings of old people" we called it "Recapitalising the Banks".

 

[Raging Bull]

I don't remember that.

Don't forget - we gave the money to the depositors and the bondholders in the banks. Not to the shareholders or to "the banks".

Brendan

We did it was about 6.7Bn but the banks just took it and gave very little relief

 

[Brendan Burgess]

As I say, I don't remember it.

But I could be wrong. Feel free to post here when you find a link to it.

Brendan

 

[Purple]

I remember when the politicians were giving all our money away to Banks etc... that about 7 billion was to be targeted for distressed consumers for the purposes of debt relief. Can anyone find any link to it as it appears to be airwashed from history.

The total cost of recapitalising the banks so that they did not default and depositors and investors didn't lose their money was €42 billion. It was probably cheaper than the alternative.
The owners of the Banks didn't get a cent from the bailout, rather the money was used to maintain the banking system and prevent a total collapse of the economy. The cost of continuing to pay pensions, welfare, wages and general running costs was a multiple of that figure. That was done to prevent a broader collapse of the economy and society in general.

We did it was about 6.7Bn but the banks just took it and gave very little relief

What relief are you talking about?

 

[Brendan Burgess]

The total cost of recapitalising the banks so that they did not default and depositors and investors didn't lose their money was €42 billion.

The costs were set out here in 2017 - not sure if this has been updated since.

How much will the bank bailout eventually cost?

Summary |€bn Anglo|29.3 AIB|18.4 Irish Nationwide|5.4 BoI|4.7 I.L&P|2.7 EBS|2.4 Total|62.9 How much will we get back? Anglo has said recently that it may have more than it needs and could give back around €2 billion in time. Bank of Ireland has attracted outside investors recently, so they...

www.askaboutmoney.com

No mention of €7 billion for borrowers.

Brendan

 

[Purple]

The costs were set out here in 2017 - not sure if this has been updated since.

How much will the bank bailout eventually cost?

Summary |€bn Anglo|29.3 AIB|18.4 Irish Nationwide|5.4 BoI|4.7 I.L&P|2.7 EBS|2.4 Total|62.9 How much will we get back? Anglo has said recently that it may have more than it needs and could give back around €2 billion in time. Bank of Ireland has attracted outside investors recently, so they...

www.askaboutmoney.com

No mention of €7 billion for borrowers.

Brendan

I can't find any information more recent than 2019. I agree that there's nothing about €7 Billion.