Written answers

Tuesday, 30 November 2010

Department of Finance

Banking Sector Regulation

5:00 am

Photo of Lucinda CreightonLucinda Creighton (Dublin South East, Fine Gael)
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Question 123: To ask the Minister for Finance the preparations made by him to merge Irish Nationwide Building Society into the recovery arm of Anglo Irish bank; and if he will make a statement on the matter. [45308/10]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Minister, Department of Finance; Dublin West, Fianna Fail)
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As indicated in my Statement on 30 September last, Irish Nationwide Building Society does not have a future as a stand alone entity and will have to be sold or amalgamated. One option being explored is whether there is merit in using the Anglo Irish Asset Recovery institution to work out the assets of the Society. This issue will be finalised in the context of submitting a revised Restructuring Plan for the institution to the European Commission for approval.

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