Martina Devlin: There's five billion reasons to quit your arrogant bank
Published 17/11/2011 | 05:00
There are almost five billion convincing reasons why Bank of Ireland should immediately pass on interest rate cuts from the European Central Bank to borrowers on standard variable mortgages.
To date, €4.7bn is the sum taxpayers have injected into the bank after reckless lending, fuelled by greed, propelled it to the brink of extinction. And a bonus reason, on top of those nearly five billion, comes in the shape of the bank guarantee scheme -- yesterday extended by the Finance Minister for another year.
Bank of Ireland would not exist today without the tax revenues and bona fides of the Irish people. But I'm at a loss to know what we get back from the bank in return for our cash and support.