BANKING CRISIS:MINISTER for Communications Eamon Ryan has predicted "clarity" and "certainty within a matter of weeks" on the crisis involving Anglo Irish Bank and AIB.
He also expressed confidence the cost of borrowing would be reduced in bond markets and that Ireland “will be in a much better position in international markets”.
Speaking at a press conference yesterday following the Green Party’s think-in, Mr Ryan said people were rightly concerned. “Getting those bond spreads down” was essential to reduce the cost of interest rates and keep “money in the country”.
He said an assessment of the figures at the end of this month by Central Bank governor Patrick Honohan and Financial Regulator Matthew Elderfield would show “we can manage” the crisis and “bring down our bond spreads and help us get out of this difficult situation”.
He said: “Their assessment to this Government all along is, while it’s very difficult, it is manageable. And that sense of ‘Yes we can manage this’ will bring down our bond spreads and help us get out of this difficult situation.”
