You know the meme... "Banks are/were solvent"... It replays itself over and over again, most recently - well, just now - in the Banking Inquiry hearings in Ireland.
Ok, so they are:
Yes, that is 4 years after Irish banks were recapitalised, more than 3 years after they passed 'stringent' stress-tests and over 2 years of 'rigourous' work-outs (with 'strict' targets being met) of NPLs.
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