There are now more models for fixing Irish banking than there are Irish banks.

Only seven institutions are in the government guarantee scheme, but up to 10 potential 'fixes' are being advanced. Remember most of those proclaiming on the subject have a vested interest in the solutions.

Stockbrokers vehemently dislike nationalisation as it would wipe out a large chunk of the stock market. Banks don't like nationalisations either, mainly because the top tier of management would have to go and executives would be reduced to mere civil servants.

Bond holders are in favour of a fix that involves their bonds being purchased in a debt buyback scheme, allowing them to make a gain.

The bad bank or asset protection scheme is a favourite of distressed debt companies and private equity firms that can snap up assets at fire sale prices, helping them to make a gain too.

There are precious few neutrals in this crucial debate.