Five High street banks in Ireland are to be paid £48bn by a state agency to cover their toxic debts in the biggest financial rescue in the country's history. Bonds issued by the National Assets Management Agency (Nama) will provide the struggling banks with £7bn more than the current £41bn value of their toxic debts.
Brian Lenihan, the Finance Minister, accepted that voters were furious with the banks, but said there was recognition that economic recovery would only come with a stable banking system.
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Bollocks, just another rape of the Irish People!!
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