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In her first interview UK as Chief Executive of the IAA, Mark Tucker stated that growth AIA strategy would be organic and that the company was in search of tactical possibilities instead of major acquisitions. Directly on if he was interested in a bid, Mr. Tucker replied: "we've closed this chapter in our lives."

"We focus our energy here [Asia] on an incredibly bright future with the company right with the right people at the right time." We have our own fate in our hands and we need to deliver on this.

"With the AIA is that it is in the right place at the right time." We're basically on organic growth.

"We have the ability to mergers and acquisitions, but he would battle." Organic opportunities that we are so important, where are going to focus. ?

IAA itself has been the subject of controversy and ultimately fails $35bn, ￡ 22bn) takeover attempt earlier this year led by Mr. Tucker at Prudential, successor Tidjane Thiam. Supply collapsed in acrimony after that investors refused the cost approach.

Deprived Mr. Thiam said that one of the reasons for the commencement of the offer was because he feared an approach of IAA, once he had floated on Hong Kong Exchange, an event that has now successfully held.

Mr. Tucker said debt free AIA and seek to become the number one company in Hong Kong. Mr. Tucker was clearly that AIA would be much more competitive with the prudential, eventually stretch growth targets rise fear Mr. Thiam has defined the British company.

"The greatest potential is such that the forces of competition in this part of the world mean it to increase the size of the pie, instead of fighting for the next piece it", said Mr. Tucker.

"There is no reason why we can't be the number one company in Hong Kong," he said.Mr Tucker also revealed defined divide its combined role of President and Chief Executive.

The move is supposed to be made in the first half of 2011 and refers to a development which Hong Kong local financial regulator is eager to see happen.

That Mr. Tucker has joined AIA in August, its priorities have been oversee the initial public offer successfully, thanks to which it is now valued at approximately $35bn and renew the Board and senior management team.

This change management demanded handset Executive Chairman role. However, Mr. Tucker now plans to change.

"Us split it at some point probably sooner than later,", he said. "Assembling the Board was very important." He confirmed expects that a new non-Executive Chairman would be named in 2011.

AIA, once part of the insurer AIG American who was rescued by the Government to the financial crisis began trading on the stock exchange of Hong Kong at the end of October saw the United States to sell its stake in Asian subsidiary 67pc. The rest is supposed to be sold in 12 to 18 months.

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The new seat provided Bank Irish Anglo remains unfinished in Dublin North Wall Quay: MCNAUGHTON CATHAL

The formal sector, Ireland ECB representatives towards the EU and the IMF frantically working together to rescue funding package.

The other tracks, that of the private sector is dominated by nerve applicants become increasingly concerned about the safety of money they have in the Irish banks.

Isn't surprise, eyes on this race from inside and outside of the Ireland. Its outcome is essential for the country, for the stability of the other European economies and for stock assessments, bonds, currencies and markets around the world.

After flagging at the beginning of last week in the middle of the contradictory signals and contradictory statements, the official sector has been gaining solide.Il registered weekend ahead by just a few steps. and it seeks to increase the positive momentum by accepting quickly a package which will probably include three main components: more Irish; budgetary austerity large budgetary loans in Dublin in Brussels (EU) and Washington (IMF); liquidity and capital support for Irish banks almost everyone, including the ECB in Frankfurt.

Accompanied by such a package, the formal sector has the capacity to maintain its lead for the next days and semaines.Et she need to do if the Ireland is to shoot an exodus of bank deposit which, if left unattended, could become a bank full implementation would devastate Irish jobs, potential growth and long-term prosperity.

Unfortunately, the formal sector lead is automatically translated into a decisive victory.There are two significant obstacles to overcome. Is short term and, fortunately, more favourable .the minimization ' is more long term and requires a fundamental change in mentality and approach.

It is likely that, during the next few days and weeks, one or more members of the official team could stumble and undermine the commonality of approach and a goal which is so essential to the maintenance of the head.

Irish politicians could resist the erosion of de facto national sovereignty on economic decisionscitizens could push against yet another series of cuts and spending tax increases; the ECB and IMF could resist a weakening further their balance sheets.and the European Union may find it difficult to persuade all Member countries to plant to finance the Irish bailout.

While each of these attracted much attention, there is a second challenge much larger (and longer term).The formal sector pursues a strategy that is appropriate for a sprint, while the Ireland is engaged in a difficult marathon and complex.

Beyond the next few days and weeks, the Ireland and official partners must convert approach of liquidity in the short term in a more sustainable long-term solution which deals with credit growth and restructuring économique.Quatre conditions must be met for this:

Firstly, Ireland must find more decisively to restructure its berges.Mesures simply to kick the can, on the road not reassure depositors nervous and frivolous.

Secondly, you cannot resolve a solvency problem involving new old debt debt.The Irish Government must move with more strength to overcome debt overhang that discourage new investment and erodes the future productivity of economy list.it process, it can and must, a better balance in the sharing of the burden between taxpayers and the creditors, preventive and orderly manner.

Thirdly, the Union European must provide more and more concessional financing long-term Irlande.Il must take this opportunity to adapt rapidly the new European Financial Stability facility has designed six months ago, but still has not been made opérationnel.enfin, should be a debate as to whether if countries such as the Ireland and the Greece can regain competitiveness in the years of socially painful income, wage and salary compression.

Yes, each of these four areas is difficult, controversial and politically sensitive.

They involve a risques.Encore avoiding does not remove them the difficult challenges facing the Ireland and other devices country européens.Il will just the worst thing in a few months.

Marathons are inherently difficult and complexes.tente refuse this truism treating them as sprints fool not long.

 Mohamed a. El-Erian is Chief Executive and investment co-chief of PIMCO and is the author of the bestseller 2008 clash of article marchés.Cet agent contains the current opinions of the author but not necessarily those of PIMCO

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