Official Ireland hides behind an enduring veil of secrecy
First, the numbers. In 2008, the top 22 biggest borrowers in the country alone
had borrowed €8.8 billion to buy development land, and had total borrowings of €25.5
billion. At that point in time, despite the country’s top bankers seeking a bank
guarantee from the state, the five main banks believed that total losses as a result of
bad lending would come to a little more than €5.2 billion.
These are some of ...