Pat Rabbitte: Has Europe learned its lesson from the last crash?

The ECB responded to the last global recession by embarking on an austerity binge, but things are different this time

21st February, 2021
Pat Rabbitte: Has Europe learned its lesson from the last crash?
ECB president Jean-Claude Triche is an ever lasting of literally speaking down to the Oireachtas banking inquiry

The release from prison last week of David Drumm, the former chief executive of Anglo Irish Bank, will have rekindled dark memories of the 2008 financial crash for many people. More than a decade later, the painful memory lingers of how bank mismanagement, greed and recklessness, destroyed the livelihoods of many people and deprived some of their homes.

The downturn that followed lasted longer than Drumm’s time in prison. The hard-won recovery had scarcely settled in...

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