Time to air Irish Nationwide’s dirty laundry in public

27th November, 2010

Tidying up the reckless lending splurge of the country’s banks is proving much more expensive than was originally thought.

The real cost has got higher and higher since September 2008,when the government rather naively assumed that our banks simply had a problem with liquidity, not solvency.

Two years and tens of billions of euro later, it is now clear that the banks still have a problem with both liquidity and solvency.

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