A necessary price to pay
WE wait 18 months for key decisions on the banking system, and then they all come at once. On Tuesday, Finance Minister Brian Lenihan will reveal the extent of bank losses on loans to the big developers, and what he intends to do about it. It will not be a pretty sight.
In particular, reports say AIB may need so much fresh capital to cover its losses that the State will end up with a majority stake in the country's largest bank.
If it happens, it will not be outright nationalisation, as with Anglo.