Only 3 weeks to go to see report on BKIR. I think there will be a positive response to the information contained in that report because I think the report will reflect the recovering economy. I know the weather has been a huge factor in terms of tourism and outside work, but since Ireland has moved away from construction driven economics to a more service/pharmaceutical foundation, the weather has only had minor impact (in terms of economic performance). And it looks like Ireland is streets ahead in attracting foreign enterprise at the moment (due to its attractive tax levels). I know this issue enrages Irelands European counterparts but to give credit where credit is due, Irish politicians have managed to retain the country’s corporate tax rates when there was a huge amount of pressure to raise them.
BOI is set to report 2013 results on Mar 3; in 3 weeks, which is just round the corner... Hopefully it will break even into a small profit the last quarter of 2013. If so, 2014 should be the turnaround year. Ross brought at .09 to .105 a few years ago. He has done very well !!
Deutsche Bank AG, London Branch (contact: New Issue Syndicate on 0207-545-4361) hereby gives notice that no stabilisation was undertaken by the Stabilising Manager(s) named below in relation to the offering of the following securities.
Issuer: The Governor and Company of the Bank of Ireland
Guarantor (if any): N/A
Aggregate nominal amount: EUR 750mm
Description: 3.25 PCT. Notes due 15/Jan/2019 (ISIN: XS1014670233
Stabilising Manager(s): Citigroup Global Markets
Deutsche Bank AG, London Branch (stabilisation coordinator)
The floods around the Irish coast will slush a fair bit of insurance and Euro cash through the economy over the next few months. W. Ross made several positive comments on Ireland's turnaround on CNBC this morning. His equity group won't wait ten years to recoup their investment in BOI x11 (I think they bought in around 9 cents) so lets not rule out a Euro long before ten years.
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