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Sat 12 Dec 2008Irish banks and golden circles
The banks have been recapitalised without any sanction. The Government's Christmas spirit knows no bounds as the Establishment moves to protect its own, writes Michael Casey
THE TRUTH has at last come out. For some months now the chairmen and chief executives of the banks, the Central Bank, the Financial Regulator and the 20 PwC consultants all agreed that there was no problem of under-capitalisation in the Irish banks. There was also complete agreement that the banks had adequate shock-absorption capacity for a number of years ahead.
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