BankSimple is looking at banking in a different way, boiling banking down to its basics. This could be a model for a rejuvenated, value-focused, Europe-oriented Irish banking sector. There is no point in launching a bank in the Irish market which is a me-too copy of all the other banks we have in Europe (which is what Anglo Irish Bank plans to do and what Bank of Ireland and AIB are continuing to have a tough time doing).
A union leader recently told the papers that eircom could be on the brink of collapse within six months. Obviously the union has suddenly become aware that there is a large amount of debt overhanging the company.
The fact that eircom has a lot of debt is well known. The actual structure of that debt is less well known. The role of the unions in running up the debt is not talked about much at all. However, these are all key to understanding what will happen next at eircom.