16.12.2008 - Irish funding bail-out
From FT: The National Pension Reserve Fund is Ireland's own sovereign wealth fund, established when the country was running healthy budget surpluses. It had assets under management of €18.7bn (£16.8m) at August 31. Under the legislation, it was not envisaged that money would be drawn down until after 2025. Brian Lenihan dismisses criticism, insisting there will be no downside for the taxpayer or the pension fund from a €10bn investment in the Irish banks, claiming instead that the fund will benefit from the “upswing” in the bank shares..... Full Article: Source