Irish government's bank consolidation plans in doubt.

One of the government’s arguments for rescuing the Irish banks was that to do otherwise would leave the country without a viable banking system.

What a surprise that their plan has backfired. Such heavy state subsidy to Irish banks has left other more viable banks unwilling to compete with them for what is left of our hollowed out economy.

Had AIB, BOI, Anglo, and INBS been shut down as soon as it became apparent they were bankrupt the market would have been opened up for healthy banks to replace them. Instead the healthy banks are withdrawing and we are left with the zombies.

You can’t really blame EBS for not wanting to merge with Irish Nationwide.