Bank of Ireland avoided nationalisation against the odds, and has even managed to obtain wholesale funding via bilateral transactions. BoI group treasurer Sean Crowe explains the formula.

The chaos that ensued when the unprecedented economic mess that Ireland had found itself in has calmed, and the country's new government is beginning the unenviable task of repairing its financial system.

Brendan Mcdonagh, who heads the agency set up to help recapitalise Ireland's troubled banks, admits its task is not easy, but says it is making progress.

The Irish government has opted for a 'bad bank' to save the nation's finances by buying up bad loans. With some experts unconvinced this was the best solution, only time will tell if the gamble pays off. Writer Philippa Maister

As Ireland reels from its banking woes, a fierce debate is under way as to whether the government's 'bad bank' solution will be enough to open a route to recovery or whether widespread bank nationalisation is a more realistic option. Writer Philippa Maister