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42% of Europe’s banking crisis paid by Ireland
national | anti-capitalism | other press Wednesday January 16, 2013 23:00 by fred
An article in the examiner states that 42% of Europe’s banking crisis is being paid by Ireland. Thats from a tiny population of 4 million. This is a completely ridiculous state of affairs.
The Examiner penned an article putting a little pressure on the Taoiseach and his FG minions today. It claims that in real terms Ireland has shouldered 42% of the European banking crisis. Those waiting in line at soup kitchens, those surviving in negative equity and other victims of what are euphemistically referred to as "austerity measures" here and those whose businesses have collapsed as the local economy has been hollowed out through lack of bank lending and consumer spending by a cash strapped frightened public, will not be very surprised at this analysis.
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I find that €40 billion figure as the only amount paid out by Germany too hard to believe. I am reasonably sure they have paid out more.
As far as I remember the German's had to bailout one of their own banks Depfa which just before the boom changed its headquarters to the IFSC in Dublin from Germany but due to some legal issue, we avoided having to bail that out too and it cost the Germans over €100 billion, but there were other banks in Germany that went under and were bailed out.
Anyhow in a separate issue there is an interesting site called BondWatch that is tracking what has been paid so far in bonds.