Taxpayers paying a heavy price for banks’ debts

There is much debate about the facts and figures associated with Ireland’s receipt of liquidity funding from the Troika and the repayment commitments for both public borrowings and that which we have borrowed to repay private bank debts.

Most TDs, indeed most cabinet ministers, are on record to the effect that they are sick/galled to have to honour the repayments.

Unfortunately, they will follow. We are bound into this repayment schedule and unilateral action would be more damaging to Ireland than the path they are taking by making the payments.