The Anglo Director John Bowe, who is at the heart of the Anglo Tapes controversy is to have his arse excavated in an attempt to find additional funds for Revenue.
The tapes exposed a conversation between John Bowe and Peter Fitzpatrick, both senior directors at the toxic bank. During the conversation, when Fitzpatrick asked Bowe how he came up with the €7 billion figure, he replied that, “I just pulled it out of my arse”.
Revenue are now acting on the statement and investigating whether it will be possible to pull even more funds from Mr. Bowe’s arse. If successful it could be used as a source of finance and help Ireland stabilise it’s economy.
Minister for Finance Michael Noonan commented earlier that:
John Bowe’s magic arse may become a valuable lifeline for this country’s finances. We’ve no idea just how much money there is left in his arse, but will be organising a test drill over the coming weeks to see if it’s worth excavating it entirely.
Revenue are hoping that this approach will lead to the government recouping some of the billions it put into stabilising the failing bank.
More on this as it breaks.