Wednesday 21 February 2018

Bank on it

• Bob Hope was quoted that "a bank is a place that will lend you money if you can prove you don't need it".

How descriptive it is of our banks today.

The Financial Regulator Matthew Elderfield told a German newspaper that Irish banks may need "another €3bn to €4bn" in the next few years. Initially €63bn of taxpayer's money was pumped into banking institutions. NAMA has unloaded them of €74bn of property debt. And, according to the Department of Finance, there was €151bn in cash on deposit at the four main Irish banks in April this year. It beggars the question -- what has become of this money?

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