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
2
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,...

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