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Thread: How did AIB pass EU stress test ?

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    Default How did AIB pass EU stress test ?

    I wonder will we get an answer to this ?

    Labour MEP questions EU over AIB all-clear | BreakingNews.ie

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    There are people in high places - politicians, civil servants, regulators, bankers - who have failed in the exercise of their duties, that have led us to where we are now. Similarly, there are people in not so high places - civil servants, regulators, bankers, political advisors - who also failed. They were negligent, incompetent, undertrained, poorly led, badly advised, call it what you will - they made mistakes.

    This is true in this instance (I don't see how it cannot be - either the test was flawed, in which case the framers of the test, presumably European Civil Servants, failed; or the execution of the test was flawed; or the bankers didn't provide the right information, for whatever reason. It is also true in so many of the other processes that have led us to this unfortunate place.

    In very few of these cases I would submit people deliberately did wrong. In my view, I think most people would agree with that. By extension therefore, most people were simply trying to do their jobs. That will have resulted in cover-ups, airbrushing, and the denial of "access to the truth" in the interests of those people who made mistakes. There's nothing criminal here, it's just the way things work.

    So the answer to your question is simply "no".

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    In AIB's case, passing the test assumes that it would succeed in a €7.4 billion plan to raise further capital by the end of the year

    AIB and BoI pass stress tests - RT News


    Why did the EU make this assuption ?

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    Politics.ie Member sport02's Avatar
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    This question was posed to former minister of Finance,Ruairi Quinn, on newstalk a few weeks ago, to which he replied "I don't know, that is the 64,000 dollar question"

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    Quote Originally Posted by jacko View Post
    AIB and BoI pass stress tests - RT News


    Why did the EU make this assuption ?
    Probably because FF guaranteed they would step in if the Market did not provide the cash
    We have turned the corner.I commend this Budget to the House. Brian Lenihan, 9 December 2009

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    Get Real. All the (w) bankers have known for for YEARS
    that AIB was a busted flush.

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    Politics.ie Member Furze's Avatar
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    A Greek examined the Balance Sheet - hey presto!

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    Politics.ie Member cry freedom's Avatar
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    Quote Originally Posted by sport02 View Post
    This question was posed to former minister of Finance,Ruairi Quinn, on newstalk a few weeks ago, to which he replied "I don't know, that is the 64,000 dollar question"
    That would leave him out by a factor of 1000, would it not?

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    Politics.ie Member cry freedom's Avatar
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    Quote Originally Posted by TonyB View Post
    There are people in high places - politicians, civil servants, regulators, bankers - who have failed in the exercise of their duties, that have led us to where we are now. Similarly, there are people in not so high places - civil servants, regulators, bankers, political advisors - who also failed. They were negligent, incompetent, undertrained, poorly led, badly advised, call it what you will - they made mistakes.

    This is true in this instance (I don't see how it cannot be - either the test was flawed, in which case the framers of the test, presumably European Civil Servants, failed; or the execution of the test was flawed; or the bankers didn't provide the right information, for whatever reason. It is also true in so many of the other processes that have led us to this unfortunate place.

    In very few of these cases I would submit people deliberately did wrong. In my view, I think most people would agree with that. By extension therefore, most people were simply trying to do their jobs. That will have resulted in cover-ups, airbrushing, and the denial of "access to the truth" in the interests of those people who made mistakes. There's nothing criminal here, it's just the way things work. So the answer to your question is simply "no".
    Have we learned nothing then?
    Will it all drift back to "business as usual"?
    If those minions who covered up their bosses corruption lived in danger of getting their arses severely roasted then perhaps we could build a platform from which we could move forward.
    If that proves to be impossible perhaps we should abandon the whole structure.

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    Politics.ie Member kerdasi amaq's Avatar
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    The test was organised in accordance with "progressive" liberal principals; no one fails and everyone passes.
    We have got as much as we are going to get out of Europe; it is, now, time to leave!
    EUROPA CONVENTUS DELENDA EST!...Whistle out the marching tune.....27

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