€170m is a small price to pay for competitiveness in our banking structure

€170m is a small price to pay for competitiveness in our banking structure

The state wants to stay out of the banks but, with lending restricted and competition stagnating, a new public banking system could offer a viable alternative

It is a contradiction that at a time when the state is attempting to extricate itself from the banking sector there are calls for the government to pump close to €200 million into a community banking model, along the lines of Germany’s hugely successful Sparkassen. Almost a decade on from the bank guarantee it should be the time for the Irish taxpayer to get returns from the banks, not to add to the outlay.

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