herald

Sunday 17 December 2017

Editorial: We pay as bankers get away with it

Nothing could have prepared us for the latest revelations showing the appalling scale of our banking debts. The crisis has left every man woman and child in the country facing a bill of €2,000 each a year just to service the interest payments on borrowings.

Public despair is fuelled by the frustration of knowing that the moneymen, bankers and policy makers who created this crippling debt mountain will not pay the ultimate cost.

They are not the ones who will be burdened with overwhelming taxes, thrown out of jobs and in some cases thrown out of homes.

People have a right to be very, very angry at the greed and shoddy practices which have left us with a bill of at least €32bn just to bailout the country's banks.

Worst of all, this massive debt will have to be passed on to our children and our children's children before it can be finally cleared.

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