Richard Bruton
Ceist:139 Deputy Richard Bruton asked the Minister for Finance the proposal for the separation of a bad bank within Anglo Irish Bank; and if he will make a statement on the matter. [11994/10]
Amharc ar fhreagraWednesday, 10 March 2010
Ceisteanna (108)
Freagraí scríofa
As the Deputy may be aware, on 30 November last Anglo Irish Bank submitted its Restructuring Plan to the European Commission as required under EU State aid rules in line with the requirement of the relevant Commission guidance. The Restructuring Plan considers all options for the future of the bank, in order to ensure that the evaluation of the plan is based on comprehensive information. As I have noted previously, the submission of the plan by Anglo to the European Commission marked the beginning of a detailed and comprehensive evaluation process in advance of any final decision by the Commission on the plan. This process is ongoing and involves extensive consultation and dialogue between the Commission, the Irish authorities and the bank.
As part of the process, Anglo is now undertaking further detailed work in relation to the plan. The Deputy will understand that in view of the commercial sensitivities involved it would not be appropriate for me to make public or comment on any detailed elements of the plan. As I have stated previously, I am committed to working closely with the Commission and the bank to achieve the best possible outcome for the State from the restructuring process for Anglo Irish Bank.