Wednesday 17 January 2018

Bank burden easing but Anglo still casts a very long shadow

Anglo Irish Bank
Anglo Irish Bank
Donal O'Donovan

Donal O'Donovan

THE prospects of European aid arriving in the form of billions of euro for taxpayers here in return for taking over our battered banks have faded away.

An apparent promise back in 2012 that "Ireland was a special case" and therefore eligible for financial aid to help cover the €64bn cost of bank bailouts has not translated into hard cash. It looks like it is not going to.

The European Stability Mechanism (ESM) isn't coming and without such an outside stabiliser Paddy has to peddle for himself.

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