Thursday, April 21, 2011

IRELAND - Banks adrift

"The bond beyond the beautiful 24 billion euros were injected into the banks," as the Irish Times, following the publication, March 31, the results of stress tests conducted by the Central Bank. That day, renamed Black Thursday ("Black Thursday"), it was learned that the State had no choice but to pay this amount to the banks toxic.

"This will be the fifth plan to rescue banks since 2008 and this extension is to 70 billion euros the amount of state assistance," the paper notes Dublin. All Irish banks are now owned by the state and every taxpayer, including children, are indebted to the tune of 17,000 euros per head to keep them afloat.

For now, the new government is opposed to the bondholders the largest share some of the burden: such a strategy would not be "reasonable or logical," said the Prime Ministers; Enda Kenny, 31 March. But "the new government should remember that he ran for and obtained a warrant to prevent the rescue of the banks run the state," concluded the editorial of the Irish Times.

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