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
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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