We need to secure a better deal for bailout

THE banks and the total cost of the bailout are hot election topics. Anglo chairman Alan Dukes added to the mix this week when he said the banks would require a further €15 billion before the massive hole in the banks is finally plugged.

This is on top of the €35bn earmarked for the banks under the IMF deal.

Dukes has fed the uncertainty about the banks, but it is the case that the latest assessment of the banks capital needs will not be known until sometime in March when the PCAR (Prudential Capital Assessment Review) process is finalised.