State May Take Over Ulster

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90265458The bank.

The BBC’s business editor Robert Peston said that a draft report from the commission called for the split of RBS [Royasl bank of Scotland] into a good bank and a bad bank. However, he added that “another, more radical option is also being assessed by the Treasury”. That would involve somehow removing Ulster Bank from RBS Group – Ulster has been the worst performing part of the group, dragging down its overall performance. Mr Peston said that one idea raised is to “transfer Ulster Bank into the arms and ownership of the Irish government”, by swapping all or part of the bank for the British loans and investments currently owned by Ireland’s “bad bank”, the National Asset Management Agency (Nama).

 

And sure why not?

Ulster Bank: Treasury looks at Irish takeover possibility (BBC)

(Sasko Lazarov/Photocall Ireland)

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