Sir, – Arthur Beesley’s report (Front page, February 20th) on the possible debt write-off of debt by AIB and Bank of Ireland, as part of restructuring of finances for Independent News Media, contains a very worrying quote from a Government source: “Nothing has been presented to Government yet”.
This quote highlights the danger of political control of the banking system and the Government must avoid even a hint of interference in commercial banking decisions of this nature.
If there is a debt write-down in this case, doubtless the Opposition and elements of the media will seek to make political capital of the perceived affinity between Denis O’Brien and Fine Gael, but the Government must clearly demonstrate that it will have no involvement in individual credit decisions made by the banks. – Yours, etc,