Last year, Irish loans worth a face value of €12.1 billion were sold to vulture funds.
As European banks race to get rid of the bad debts that are the among the most meaningful legacies of the collapse, Ireland is unsurprisingly among the most active. One in every four European loans sold was an Irish one: Ireland partied harder, for longer, and it follows that the hangover is worse.
The banks and Nama have purged...
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