I agree, however there is a posibilty of a EU fund been used to recap EU banks which are found to need capital after stress tests, possible part reason for Increasing investor confidence with Irish certain irish banks.
Be careful Scot, BOI and the other 2 Irish Banks have to undergo re-capitalization stress tests later this year ( a pre-condition for Ireland to exit the EU/IMF deal). Although it has already been said that the banks will need further re-capitalizaiton, it depends on market sentiment at the time.
This is just a word of caution and is not intended to de-ramp, as I also expect this share to rise.
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