cos its losing money hand over fist.
ECB rate has nothing to do with the rate charged that banks access their funds, hence why trackers mortgages are costing "us" a fortunate.
the govt has no money, this country is on its knees
we have elections to elect a government. what do u suppose we should do, i know i don;t hvae the answer and i don't blame just the govt for mess we are in, a lot of people are responsible, bankers, deverlopers,builders,unions, normal joe soaps who thought they'd play monoplyand buy BTL's all over the place.
as for teh 1 billion payout, well think the Givt is stuck bewtween a rock and a hard place with thatas they are afraid of what will happen it they do not pay
btw...on im on a SVR, but i could clearly see that AIb rates where far to low to be sustainable