Tánaiste: 'More than one way to skin a cat' on bank debt
The Tánaiste has given the strongest indication yet that the Government may not pursue retrospective recapitalisation of our banks.
Speaking in Wexford this afternoon Joan Burton said "there is more than one way to skin a cat", and said the Irish economy has changed and different solutions may be needed now.
"Would it be exactly what might have been done in June2012? Possibly not. It's all for debate," she said.
"The critical thing is at each point to look at the strategies that currently, and for the future, maximise savings for Ireland, relieve the pressures for Ireland, [and] constitute a win-win for Ireland and Europe in terms of recovery."
Finance Minister Michael Noonan has already indicated that the June 2012 agreement by EU leaders may not offer the best for Ireland, and that a sale of AIB might give the taxpayer better value.
Fianna Fáil's Finance Spokesman, Michael McGrath said the State should at least apply for a debt deal before deciding to drop the plans.
"If we think we can get more from the markets or from the private sector … then so be it. But let's at least make the decision based on information," he said.
Late last week, Noonan received approval from EU member states for Ireland to pay back €18bn of the country's debt to the IMF early, saving large sums in interest. The faster repayment is expected to save the country about €1.5bn within the next five years.
