Voices
The Department of Finance never intended to become a bank shareholder. Twelve years later, it’s still trying to get rid of its bank shares. The department doesn’t want the shares first and foremost because it doesn’t want to be in the banking business. State-managed banks have a poor track record. The Department’s view is that banks should be banks. Besides, EU state aid rules prohibit governments from propping up domestic companies. The government’s ownership of the banks falls under those rules. So the government is legally obliged to sell off its bank shares. Why not just sell the shares, then?…
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