Debate sparked about rout in Irish bank shares

A debate has been sparked about the scale of the slump in Irish bank shares amid the wider stock market rout of recent weeks.

Banking shares across Europe have lost between a quarter and a third of their value since the start of the year as stock markets appear to signal their deep fears about a looming slowdown in the world economy.

Debts piling up in emerging economies, allied to the sharp falls in the price of oil, has helped weigh on the price of distressed corporate debt.