ARC heralds shift in attitude towards market
ARC, it has been suggested, could have access to about €3 billion in pension money from Britain, but it is our understanding that figure could be at least €6bn provided banks can be found that are willing to deal along terms acceptable to the three major pension funds that have backed ARC. This development suggests several possibilities.
People will remember that when the Government announced NAMA, it said it was forced to do so because there were no financial institutions willing to take over the distressed assets of the Irish banks at the time, due to the loss of confidence in Irish property and everything associated with it.
