Tuesday March 31, 2020

Ignorant analysis drives British take on Ulster Bank

So the British media have finally discovered Ulster Bank, which made a lot of costly mistakes lending British capital to Irish borrowers. Well, boo hoo, writes Jon Ihle.

10th June, 2013
Jon Ihle "This is how cross-border banking works: money from one place flows to another; sometimes profits flow back, sometimes they don’t."

So the British media have finally discovered Ulster Bank.

The lender is the third-largest bank in Ireland and a wholly-owned subsidiary of Royal Bank of Scotland, the global financial institution the British government rescued in a series of bail-outs totalling £45 billion (€52.9 billion). Ulster Bank got about one-third of that in successive recapitalisations as it booked huge losses, mostly on property loans.

Now the Times is shocked - shocked! - to report that Ulster...

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