Wednesday, 1 December 2010

How much wriggle room do we really have with the banks?

Quite a bit actually.

I just had a perusal of Bank of Ireland data and as at June 2010 they had around €31bn in various bonds on issues. That includes many things like floating rate notes, but technically all ripe for "restructuring".

€31billion would have placed a nice buffer between the banks and us poor taxpayers. It should be used.

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