Lack of communication an utter disgrace

ONE of the many criticisms levelled at the Government in the aftermath of the election is their capacity to communicate coherently with citizens.

The nationalisation of Anglo Irish Bank and the liability to which the State is exposed is a specimen example of inadequate communication.

Anglo was nationalised last January when its assets amounted to €100 million. When its half-year results to 31 March were published on 29 May its assets were reduced to €88bn. It requires an immediate capital injection from the state of €4bn with the prospect of a further €3.5bn being required to meet identified losses before too long.