Wednesday 22 March 2017

A week is a very long time in the disastrous world of Irish banking

Bankers' criminal negligence, political incompetence and the ECB have all combined to dump the 'costliest' bailout in history on to the Irish taxpayer, writes Daniel McConnell

Last Thursday was to be the day that Ireland would finally liberate itself from the worst financial crisis in its history.

But what happened?

We, the taxpayers, shovelled another €24bn into our busted banks (of which only two will be left standing); Ireland was shafted by the ECB, which failed to deliver on a promised medium-term funding facility; the Government U-turned on its election promise to burn bondholders; and events in Spain and Portugal heightened the stakes even further.

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