Another black day and bad joke on the public

YESTERDAY marked another black day in the recent history of the Irish banking sector and the economy.

The stress-test outcome proves conclusively that the banking strategy in play since September 2008 is not working and that the senior management in the financial institutions that has been providing information to government over the past couple of years is either, stupid, incompetent or less than honest. I suspect it is a combination of all three.

Ireland has been treated to a drip-feed of horrendous news over the past two-and-a-half years. It has been a case of death by a thousand cuts.