As things stand the Irish Banks require recapitalisation in EXCESS of their current market capitalisations.
Investors will not recapitalise said banks as it would be cheaper to PURCHASE them first for a fraction of what needs to be invested and that changes the Investment strategy
If, for example, UAE investors were considering such an investment in an Irish Bank (which they would never) they would quickly see the value in a new start up. Such a start up would be in a position to cherry pick the best clients and would further undermine the Irish Banks.
(Barclays are paying 19% !!!!! to middle east investors That will surely drag them down)
So, Chinese or Oil nations are now in a Prime position to become the Worlds Bankers and if they see the opportunity that I see they could wipe every Irish Bank out.
There is of course one drawback to this evolution, we, the Irish Taxpayer still have to cover the cost for the septic tiger banks...... Ireland Inc. heading for bankruptcy