mr_man

Irish Banks Continue Riding the Roller Coaster

Or when Bank Of Ireland is added to the mix 'Amalgamated Irish Banks'

Why Spain's Economic Crisis Is More Than Just a Housing Slump

Substitute "Ireland" for "Spain" and it seems that the same analysis would apply. Great article.

European Governments Should Look to Ireland's Response on Credit Crisis

Ireland's response is not thought out and could expose the Irish taxpayer to the debts of banks who have only limited operations in Ireland.

Already a number of banks who are not covered by the scheme, but who have some operation in Ireland are seeking coverage under the scheme. It is not clear that the Irish government will be able to refuse them since it may leave them open to legal action under EU competition law.

It seems to me that thisapproach will expose the Irish taxpayer to much more than the €400bn which the government is telling the taxpayer is the extent of their liabilities.