Europe’s plan to fix troubled banks is far from flawless

By Business Editor David Murphy The Irish taxpayer has already paid vast sums to fix the banks – so it can be easy to be cynical about Europe’s plans to deal with the next banking crisis, whenever that might occur. But adopting a common mechanism to deal with troubled lenders is a big deal. However, a big question is whether the policy behind the so-called banking union is sound and what exactly it all means.