The quiet sell-off of Ireland

30th December, 2014

In the past two weeks, close to €7 billion of Ireland changed hands. There was very little fuss and very little fanfare. Two financial institutions, Ulster Bank and IBRC, merely off-loaded billions of euro in real estate and commercial loans to international investment funds. It follows a trend for the year: Irish banks have sold non-core loans with a par value of more than €35 billion this year. This staggering figure is inflated by the...

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