The great Irish banking fire-sale starts here

Irish banks, though they have been very well stress-tested, must shrink by €70 billion, but the market is going to become very crowded with sellers

15th October, 2011

Irish banks, though they have been very well stress-tested, must shrink by €70 billion, but the market is going to become very crowded with sellers

The increasing momentum to recapitalise Europe’s banks so that they can withstand sovereign defaults may be good news for the resolution of the eurozone debt crisis, but it could make things awkward for the still weak Irish banking system.

The three remaining Irish lenders - Bank of Ireland,...

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