Barry J Whyte on Business

High Irish interest rates mean we’re still bailing out the banks, and Mario Draghi’s latest move means it’ll stay that way for some time to come

Barry J Whyte

Chief Feature Writer @whytebarry
28th January, 2018
Patrick Coveney, Greencore chief executive Pic: Maura Hickey

Here’s a trick question: when did Irish people stop bailing out the banks? Answer: we didn’t.

For the last decade – thanks to the gross disparity between the ECB’s key interest rates and the market rates offered by Irish banks – Irish borrowers have continued to do their bit, week in, week out, dipping into their own pockets on half of our beleaguered lending institutions.

And last week, unwittingly,...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

Private rental sector remains strong despite Covid-19

How the programme for government will shape housing

Insight Niall Byrne 4 months ago

Comment: US must defuse Covid-19’s ticking time bomb of debt

Insight Todd G Buchholz 5 months ago

Comment: The recovery will be more U than V-shaped

Insight Larry Hatheway 5 months ago