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Noonan says Ireland could make a profit from the bank bailout

Ireland will make a profit from bailing out some of its banks, as long as there is no change of g...
Newstalk
Newstalk

07.02 21 Feb 2015


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Noonan says Ireland could make...

Noonan says Ireland could make a profit from the bank bailout

Newstalk
Newstalk

07.02 21 Feb 2015


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Ireland will make a profit from bailing out some of its banks, as long as there is no change of government.

That is according to the Finance Minister Michael Noonan, who says Ireland will make a profit on its shares in AIB, Bank of Ireland and Permanent TSB.

He says the money put into Anglo Irish Bank is dead and can never be recovered.

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But he says the €30bn invested in the other banks could turn a profit in the next few years.

And Mr Noonan says that Fine Gael needs one more term to make sure the recovery is complete.

Meanwhile Fine Gael says Fianna Fáil and Sinn Féin have no plan for the Irish economy.

Junior finance minister Simon Harris says the coalition's plan is working, and that it should not be risked with anyone else.

Speaking at the Fine Gael national conference, Mr Harris says the opposition would undo the recovery.

The Taoiseach will tonight outline that the government's job is not yet done, but that more people around the country will feel the recovery this year.

The national conference is continuing with debates on health, securing the recovery and cracking down on crime.

Last night, Fine Gael announced an end to the ban on Irish beef by China, just a week after Irish Beef re-appeared on shelves in the US after an absence of 15 years.

Agriculture Minister Simon Coveney also predicted that expanding the dairy sector here will create an extra 10,000 jobs in the next five years.

A new tourism strategy was also promised by An Taoiseach Enda Kenny.

He says it will create an extra 50,000 jobs in hotels, restaurants, B&B's and other tourism business by 2025.

Mr Kenny promised 2015 will be the year of rural recovery, when people all over the country will feel the benefits of the improving economy.

But ahead of his keynote speech tonight, Mr Kenny admitted the coalition has more to do.

Meanwhile the Right 2 Water campaign group is planning a protest outside the national conference in Mayo today.

The demonstration at the government party meeting in Castlebar calls for the immediate release of anti-water charge protesters, who were jailed this week.

Organisers of the protest say the event comes ahead of national demonstration planned for March 21st.


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