Thomas Molloy: Parties in denial about the shambles in banking sector
FOR all the confusing talk about what should be done to bank bondholders, none of our political parties has unveiled a coherent set of policies outlining what it would do to the banking sector once any writedowns have been achieved.
Our political leaders and prospective leaders do not appear to have accepted in their hearts and minds that the banks have been effectively nationalised and are now part of the public sector.
In fact, many parts of the public sector, such as Bord Gais and the ESB, are likely to be in private hands long before the banks return to the markets.
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