The big issue of the banks

Weighty files on the banking crisis await the new minister for finance, writes Cliff Taylor

5th March, 2011

As Fine Gael and Labour prepare to enter government, there is no doubt that the banking crisis is the big issue facing them. Ireland’s banks, which require billions in more capital to fill holes in their balance sheets, will be threatened further by higher ECB interest rates, and continue to rely almost exclusively on the European Central Bank and the Central Bank of Ireland for new funding.

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