Wednesday 16 January 2019

Officials stall loan sale

IRISH officials are reported to be resisting the rapid sale of bank loans books in order to reduce the size of banks here.

Talks on the sale of around €100bn of loans are taking place between the officials and representatives of the EU and IMF.

The loans which would be sold would include mortgages and business loans.

However, the Irish side is resisting too rapid a sale, according to reports, because this would involve compensating buyers for potential losses.

Losses in such a sale would add to the debt bill faced by the Irish taxpayer.

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