Irish banks’ news flow has been about as volatile as ISEQ priced in Bitcoin. Or, put differently, bad news after worse news has swung banks’ share prices from ice cold to steaming hot and back. Surprisingly to some, and as expected by others, the latest bout of bad news is something that was both well-known in advance and well-ignored by the decision-makers in the banks and the government.  Let’s start with a clinical view of the problem.  From the start of the Covid-19 pandemic this March, Irish banks provided 89,000 households with repayment breaks on their mortgages for the period…

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