Sunday February 23, 2020

Bank crisis billions go up in smoke

Ireland has dealt with the current banking crisis by adopting most of the accommodating measures identified by Patrick Honohan in 2003 as adding to the cost of recovery

11th June, 2011
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With negotiations floundering on extracting a better deal from the EU on the Irish bailout, the real cost to the exchequer of the banking and economic crisis is becoming more apparent.

Despite pumping tens of billions into the banks, guaranteeing deposits and all liabilities, buying up bad loans through Nama, and taking €20billion of budgetary corrective action since 2008, there is little sign of a let-up for the economy and the challenges facing the exchequer.

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