Ireland bottom of eurozone report into financial stability

Ireland is in the worst financial position of all the eurozone countries, according to a new report from economists at Royal Bank of Scot land (RBS).

14th February, 2009

They estimate that total banking losses in Ireland could reach ���30 billion, which is significantly higher than existing estimates by the government or banks. The RBS ‘fragility index’ measures the financial position of each eurozone country on the basis of nine measurements, such as household debt, public debt, foreign funding and current account balance.

Ireland comes last in five of the nine sub-indices. According to the report, Ireland faces huge pressure in funding its...

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