The money squeeze

Ireland is battling with its debts. Banks have lent €400 billion to households and business. And the government is struggling to control its borrowing. Cliff Taylor examines the issues.

19th July, 2008

Ireland is battling with its debts. Banks have lent €400 billion to households and business. And the government is struggling to control its borrowing. Cliff Taylor examines the issues.

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John Hurley, the governor of the Central Bank, has said the Irish banks are well capitalised and will be able to ride out the current storm. Unfortunately investors are taking a less sanguine view.

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