ang
11-07-2010, 08:23 PM
I can just imagine Angela's face never mind the expletives when she heard about this one. Fortunately the EU rode to the rescue and said NO.
Can you imagine the desperation that prevails to keep this bank going. To submit desperate plans like this to Europe just shows the lengths that will be gone to just to keep this poisonous syphon going.:-
ANGLO Irish Bank planned to gather deposits in Germany to improve its funding base as part of its restructuring plan, which was rejected by the European Commission in March.
Part of the bank's original restructuring plan to the commission, which must approve the billions of euro of taxpayers' money it has received, included a proposal for "new" Anglo to expand into German.
The commission rejected the idea, saying it doubted whether the plan was "reasonable as it will require substantial investments". The commission was also unsure what any German deposits would add to the bank's funding mix and dismissed its forecasts as unrealistic given high levels of competition in the market.
http://www.tribune.ie/business/news/article/2010/jul/11/anglo-irish-planned-german-expansion/
Can you imagine the desperation that prevails to keep this bank going. To submit desperate plans like this to Europe just shows the lengths that will be gone to just to keep this poisonous syphon going.:-
ANGLO Irish Bank planned to gather deposits in Germany to improve its funding base as part of its restructuring plan, which was rejected by the European Commission in March.
Part of the bank's original restructuring plan to the commission, which must approve the billions of euro of taxpayers' money it has received, included a proposal for "new" Anglo to expand into German.
The commission rejected the idea, saying it doubted whether the plan was "reasonable as it will require substantial investments". The commission was also unsure what any German deposits would add to the bank's funding mix and dismissed its forecasts as unrealistic given high levels of competition in the market.
http://www.tribune.ie/business/news/article/2010/jul/11/anglo-irish-planned-german-expansion/