This site uses cookies. If you continue to use the site you agree to this. For more details please see our
cookies policy
.
Search
Type your text, and hit enter to search:
Stephen Beer
Search
Sign in
Home
Homepage
About
About
Articles
Articles
Contemporary Issues
Economy
Economy
ESG
ESG
Faith + Politics
Faith + Politics
Stephen Beer
>
Blog
>
February 2011
> How Ireland got into this mess
How Ireland got into this mess
Reading a Vanity Fair article by Michael Lewis
The financial crisis continues to affect people around the world. One such extreme case is Ireland. Ireland experienced its own property bubble and its banks geared up their balance sheets to a massive extent. When crisis hit, it hit Ireland particularly hard.
Michael Lewis, author of Liar's Poker and recent accounts of the financial crisis, has penned a highly readable account of what happened to Ireland
in the latest Vanity Fair
. He interviews with some of the people involved and describes how a financial problem became a very big economic problem. Reading it you think, why oh why did Ireland suddenly guarantee all its banks' debt? The foreign-owned debt was saved but the European Central Bank had to step in and now the whole country is liable for the bank debt.
How incredible too that the UK Tory/Liberal government highlighted Ireland as an example to follow.
Stephen Beer, 09/02/2011
From:
Comment:
Icon:
Bank levy raised but what are the real issues?
Reform is required. And what will the extra £800m go towards?
Login
Register