Mario Draghi welcomes Government's plans to sell part of AIB stake

Mario Draghi welcomes Government's plans to sell part of AIB stake

The head of the European Central Bank has given his backing to the Government's plans to sell part of its stake in AIB.

Mario Draghi says it is entirely a matter for the Irish Government - but he would welcome any move to lower the taxpayer's risks.

The Government plans to sell up 25% of the bank, despite the Dáil passing a motion two weeks ago which called for the plans to be deferred.

Mario Draghi told MEPs this evening that reducing the debts incurred from bailing out the banks would be welcome.

"It's quite desirable to transfer the risk of equity holdings in banks, from the tax-payer to the private sector," he said.

"I would like to note the process of repairing the balance sheets of Irish banks has advanced significantly since the crisis. Surely progress is there, great progress is there."

Mario Draghi welcomes Government's plans to sell part of AIB stake

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