Noonan: Timing of junior-bondholder BoI talks 'pure coincidence'
The Finance Minister has said his proposal to burn junior bondholders at Bank of Ireland is not a ploy to win back support for Budget 2012 from backbenchers.
Michael Noonan said the possibility of imposing losses on some subordinated debt in an effort to raise €350m by the end of December has been in the pipeline for months.
"This was always signalled and it's pure coincidence that it's coming now," he said.
"It's something we need to get done before the end of the year - that's if we do it.
"All that has been decided so far is to enter this consultation process with the interested parties under the act. In about a week or 10 days, if we’re going for, we'll go for it."
