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The prophet who is not recognised by his party

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PETER MATHEWS: 'Was he, like George Lee, handy for winning a seat, but a bit of an inconvenience when it came to the reality of Government?'

PETER MATHEWS: 'Was he, like George Lee, handy for winning a seat, but a bit of an inconvenience when it came to the reality of Government?'

PETER MATHEWS: 'Was he, like George Lee, handy for winning a seat, but a bit of an inconvenience when it came to the reality of Government?'

There was a small piece by Fionnan Sheahan in Thursday's Indo that you may have missed. Apparently Fine Gael TD Peter Mathews said the other day that the banks would need another €20bn bailout, on top of the €24bn agreed to, amidst so much euphoria last week.

Mathews reckons there is still a debt of €90bn to €95bn in the system, of which only €50bn has been recognised so far. Add last week's €24bn to that, and there is still a hole of €20bn. Mathews reckons that once Anglo and Nationwide are taken into account -- you will recall that they were missing from the stress tests -- we'll need to inject another €20bn.


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