It is fast approaching the tenth anniversary of the government’s ill-fated decision to guarantee the Irish banks, a move that that socialised bank debt and paved the way for the eventual nationalisation of the sector. The move came from a protectionalist, socialist playbook; in the world according to capitalist dogma, the banks would merely have collapsed, destroyed by their own hyperbole and reckless lending practices.
I make this point because the banks have...
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