Let’s pay our own way

ALAN Dukes has clarified the losses at Anglo Irish Bank with some certainty. It lent €72bn and between 10% and 15% are paying back what they owe. This suggests the bank lost €64bn.

NAMA will bail it out and hope to recover €24bn leaving a loss of €37bn.

If Allied Irish Bank’s losses reach this level the shortfall will be €12bn, and we will also own it. The other banks’ losses also will have to be paid.