D-day as banks to finally learn their fate

WHEN the banking crisis erupted in September 2008 experts stressed the importance of coming to terms with the crisis as quickly as possible.

Professor Ray Kinsella of the Smurfit Business School in UCD said it was imperative that we got to grips with the crisis without delay. Countries that adopted that kind of approach did better than those that let the uncertainty drag on.

Two-and-a-half years down the line we have been kept waiting until today for a final assessment of the capital requirements of the banks here and the consequences of that have been enormous.