The smell of the banking crisis still lingers

The past week has brought dire news for half the country's mortgage holders, for pensioners and for taxpayers - indeed for virtually every adult in the state, apart, perhaps, from those who live exclusively off the state.

In recent months, government ministers had become more upbeat. The promissory note deal was a real win. Despite the (narrow) rejection of Croke Park II, the possibility of something that comes close to it gave them ...