Oireachtas Joint and Select Committees
Thursday, 20 December 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Role and Contribution of Public Interest Directors in Financial Institutions: Discussion
2:05 pm
Dr. Michael Somers:
In theory, as I do not know whether there are other legal problems, if the ESM were to take over AIB it would not pay €20 billion for it. It might pay, I am guessing €8 billion, and that crystalises a loss of €12 billion. It could take over something at its market value, it cannot pay over the odds for it.
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