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Fri 02 Feb 2009Stay away from bad banks and risk insurance
ECONOMICS:Nationalisation on a temporary basis would efficiently resolve our banking problems, writes KARL WHELAN
THE GOVERNMENT has put €7 billion of public money into AIB and Bank of Ireland, but it has also employed economist Peter Bacon “to assess the possibility of creating a bad bank or risk insurance scheme to take so-called toxic debts off the banks’ balance sheets in a bid to free up new lending”.
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