Opinion Analysis

Monday 23 October 2017

Default or not to default? Now that's a no-brainer

Ireland must tell investors who gambled on our banks where to get off, says Daniel McConnell

In less than two weeks' time, the results of the stress testing of the Irish banks will be published.

The new Finance Minister Michael Noonan has publically admitted that the planned €10bn capitalisation will not be enough to cover the ever increasing losses in our banks.

Some, even at the head of that new Government, fear the amount needed could be substantially more than that. Last Sunday, in a front-page story, I put that figure at €25bn.

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