Blooming Irish assets good news for private banking?

Those interested in private banking have been informed Irish assets could provide lucrative opportunities for people who are willing to take the risk.

In an interview with the Financial Times, Christopher Flowers of JC Flowers & Co said investors would be "pretty brave", but claimed there are definitely possibilities.

He noted short-term gains could be made from buying up asset portfolios at reduced prices, provided there is sufficient government support to make such a move beneficial.

Similarly, according to Mr Flowers, purchasing stakes in the country's two biggest financial institutions - Allied Irish Banks and the Bank of Ireland - could also be advantageous.

Again, this will be reliant on whether government guarantees on legacy toxic assets are considered adequate to appease the concerns of speculators, he explained.

His comments followed the recent announcement that Ireland had accepted a financial bailout package of €85 billion (£72 billion) from the International Monetary Fund and the European Union.  ADNFCR-2318-ID-800276054-ADNFCR