EU debt talks - Election is sidelined by debt summit

THE response from Fine Gael’s Leo Varadkar and Labour’s Jan O’Sullivan to the suggestion that another €15 billion might be needed to recapitalise Ireland’s rotten banks should be welcomed by every one of us.

Speaking on Tuesday Government-appointed Anglo Irish chairman Alan Dukes warned that the €35 billion sacrificed to try to save the banks may not be enough and that the final figure might be nearer €50bn.

The prospective coalition partners reacted yesterday saying that if they were in Government the banks would not get “one more cent” unless they could show how bondholders were making a contribution towards dealing with the losses.