John Walsh: Time is right for state to let go of its bank holdings
Funded wholly by deposits, Irish banks are insulated from the sharp rise in the cost of funding that has put many US and EU banks at risk
The era of cheap funding is over. There is still a great deal of uncertainty about when the European Central Bank (ECB) will cease hiking interest rates in this cycle, but what is certain is that there will be no return to the money-for-nothing environment that has prevailed for well over a decade.
The combination of higher interest rates and sticky inflation will have significant consequences for government policy and the corporate sector.
The ECB ...