Banks must get real
Ireland's banking sector still has a way to go in facing up to reality.
Ireland's banking sector still has a way to go in facing up to reality. Matthew Elderfield, deputy governor of the Central Bank, was correct when he said last Friday that the banks had to take a more realistic approach to dealing with the likely levels of writedowns they will face on their mortgages. They also, unfortunately, have to reduce their employment levels in proportion to the shrinkage of their general levels of activity.
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