Just pictures...
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwgT1G72QQnp3w0GZ-0YzLYtrwm_Wa9402SwVH41yixltF7drYEppD_YcZfowfSn-fq0AyfXTdvur_wEXTm4yO_TfzowIpjpDvrYrvNe8VR7XMFsjTEJeOhNJXkhXu7DXjhVX7wCmnocpB/s400/Picture+1.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDq2T-Nrt-s140gZBPWi6W9c5DvtNEEgQfJAnRrn6NIcQsLuNFTrJcRqiy_fVkuZLa1dDvqUWReqbfwsG7446SSjOOCriERYFuaDrS0zaYrmWNc2nHiT2TLn4J374CsXQzxhLMvZmQ9o84/s400/Picture+2.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgSrxRf5SwP24-F5oXQ26cppq2h0vW6mA0gMZ-y0mQrmcM6yHTpR72J2s0prsvhpnV_6B4Q61YkFNXJ9JfZlf_luQzWtumIpRQQD49oaHl92VZu7y0XurxlOPYN6LfEysRhabI57Qh8xXHL/s400/Picture+3.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiaoBAd2_TJp6gSaYPSg2Sp8GAEyaPIa6G4T9dBeu6UZ9sb7rtVtICTPztC-z6gcGH4ebYUaqXzxvZsxJgZudzQx0v8F4M0Q3j7JjkgQkh-vqOFh9VW94pb1OpmfDORZbT47ANsWTH8O1Kb/s400/Picture+5.png)
And this is the day of rates cuts: ECB down 50bps (should have been down 75-100bps, but hey, when was the last time Germans had any guts for serious actions?) and BofE down to 0.5%... If anyone needed a proof that the markets are not treating Irish banks shares as a part of the broader world, preferring instead to price them as sick puppies, here it is:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgCdf57HIjUm463wBiJTXTqcs0zDGUA3PKwhucqYJlDrBAVhY43Y8T4Bej5vGrdQ6uwBl9S1pT6rFesye0H3s0_Xntiyi9gRyE1RJXOC-Tlh8a6_FxQr7-_FuimSyaIcbL07Ocs2XFZHodj/s400/Picture+6.png)
So is the next stop for this train of sorrow 'Nationalization II: Bank of Ireland'?
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