Oireachtas Joint and Select Committees

Wednesday, 12 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Permanent TSB

2:35 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I know it is between Mr. Masding and the board, but we have seen shares in Bank of Ireland being sold, for example, to Wilbur Ross, in what was a bad deal for the State. I believe that was done more to show there was support for an Irish bank rather than for any benefit of the deal. I am concerned, given the position PTSB found itself in over the stress test, which concerns a relatively small amount of money in this context, that we might now enter a type of scenario in which the State would hand over quite a substantial amount of its shares for a relatively small amount of money.

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