It's a long, long road back to redemption
Published 01/04/2011 | 05:00
We were told to expect bad news, and yesterday's announcement on the capital requirements of our banks certainly lived up to its advance billing.
Between them the four remaining Irish banks -- AIB, Bank of Ireland, EBS and Permanent TSB -- will require an additional €24bn of capital.
This will bring the total cost to the taxpayer of fixing the banking system to a massive €70bn.