The silent bank run continues

Ireland’s central bank increased its provision of emergency liquidity support to its domestic banking system in December, as the country’s financial crisis intensified and bank deposit withdrawals rose.

Irish banks have become increasingly dependent on central bank support to fund their balance sheets, as they lose business and retail deposits and are unable to refinance maturing bank borrowings.

The article is here.  This is one reason why the status quo cannot last forever, unless you think Ireland has the political will to transition to not having its own banking system.  If you're a business or even Irish upper middle class, why put most of your money in an Irish bank?


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