Starting from scratch

I AM not an expert, but how would it be if, instead of recapitalising AIB and Bank of Ireland, the Government had incorporated a new bank, maybe run by An Post or some of the workers let go by Ulster Bank and funded with the €7billion allocated to AIB and BoI?

The new bank would have no toxic debt and would be able to lend immediately to the small and medium businesses that need it.

And it would allow the banks to trade out of the mess they created. Then in a few years the Government would have a very valuable asset to float on the stock market to the taxpayers’ benefit.

Miles Cattell

Riverstick

Co Cork