In the banks’ interest
I have just received a statement awarding me 14 cents in interest, less 4 cents tax. Using fractional reserve banking, which they all do, my average amount can be lent out as €18,000 at about 8% = €1,440. That means that, using my money, the Bank of Ireland makes approximately 10,000 times as much interest as they give me. And our government just grins and opens our wallets.