So I spent the last few days in the very pleasant environs of Maastricht, as an invited speaker at a symposium on the future of international banking. Some really interesting papers and presentations were delivered, on which I will blog later.
At the conference were a goodly number of bankers, central bankers past and present, and academics on banking and related.
A summary of the views of the core Europeans would be ; Ireland is trying, and that's to your credit, but your legacy banking debts (read, the pro note) are going to be left with you, as YOU screwed up by lax regulation badly implemented. Oh, and your corporate tax rate? You want us to bail you out while you screw us with tax arbitrage? Not. Gonna. Happen.
I see that Brendan Howlin has stated that a deal on the note is essential. One hopes that he is talking to and listening to the same thing as I was hearing. It ain't pretty…