When people say "recapitalise", don't they really mean, we need to give the German, French and UK banks another 60 billion?
Because its not as if we will ever see this money again within the Irish banking system.
I'd love to know where the black hole is that all this money goes into. All I know is its transferred from the poor and middle income people to banks to cover the mistakes of rich folks like Fingers Fingleton, Sean Fitzpatrick, Sean Dunne and the Quinn family.
Barclays Bank have announced the closure of their 'Tax Avoidance Unit' after pressure from the German and British governments and their faltering reputation after one too many scandals. They have also announced the loss of 3,700 jobs. BBC News - Barclays to close 'tax avoidance' unit That's now over 23,000 lost jobs in the Banking Sector over the past few months in Europe.
Dutch bank ING have shed 2,400 jobs. BBC News - Dutch bank ING to cut another 2,400 jobs
Commerzbank shed 6,000 jobs
Swiss bank UBS shed 10,000 and have closed their 'Tax Avoidance Unit' resulting in British and German "investors" facing court proceedings.
In the case of AIB, Permanent TSB and Bank of Ireland, this could involve a further bailout from the exchequer. All three have already received significant State funding since the collapse of the economy in late 2008.
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