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Irish bank flight quickens despite EU rescue

By Implode-Explode Heavy Industries

``Irish central bank data showed losses of ?40bn (£34bn) in deposits from the key banks in December, compared with ?27bn a month earlier. Over the past year Irish lenders have haemorrhaged ?110bn, equal to 60pc of gross national product. "Would I want to leave money in an institution where I don't know who is making the rules?" said Gary Jenkins from Evolution Securities... Fine Gael is likely to form a coalition with Ireland's Labour Party, which is even tougher on creditors. All major parties are losing votes to Gerry Adam's Sinn Fein as it taps popular fury with calls for the IMF "to go home and take their money with them". ''

Full post as published by Mortgage Lender Implode-o-Meter on February 03, 2011 (boomark / email).