Heavy price to pay

Firstly I must compliment you on your article and that you did not, like other papers hype up this “deal” based on government spin.

This was not a deal between the ECB and the Irish Government. The Irish proposal put forward was rejected by the ECB two weeks ago.

This is an arrangement within Ireland that got the blessing of the ECB.

This could have been done a year ago or earlier. This was political expediency at its worst to save face. There is no sharing of the burden and the banks will receive every red cent and more. It has coverted the debt into a sovereign debt which cannot be renegotiated.

It has doubled the debt and our grandchildren will pay for something they are not responsible for.

Tom Quinn

Castleknock

Dublin 15