A matter of trust
The economic crash a decade ago was painful enough in its own right. But its after-effects and the way it was dealt with created a loss of faith in Ireland’s ruling elites
The word “credit” comes from the Latin “credere” – to believe. To loan someone money, you need to believe they’re going to pay you back. The economy runs on trust.
September ten years ago, the markets lost trust in Wall Street’s investment banks, fearing hidden exposures to losses on the sub-prime property market.
Loss of trust is contagious: not simply because the financial problem may be widespread, but because, in an environment where other...
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