The Irish Economy
Commentary, information, and intelligent discourse about the Irish economy
ECB bulletin article – here.
There are some interesting figures in this report. For example, three other countries (Greece, Cyprus, Slovenia) injected as much money, proportionately, into their banking system as Ireland from 2008-14. (The Irish net amount – equal to 22% of GDP – will reduce of course once the sale of AIB occurs.)
Also, when you see that Germany capitalised its banks to the tune of 8% of GDP over the period (ie, about 270 billion euro), it gives the lie to the oft-repeated claim that “Ireland, with less than 1% of the EU population have been burdened with 43% of the cost of a European Banking crisis”. (http://www.sinnfein.ie/contents/32776).
Comments are closed.