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2011 annual reports for Irish banks reveal potentially catastrophic losses and additional bailouts requirements « NAMA Wine Lake

So far Ireland has spent €67.8bn bailing out the banks, comprising €62.8bn in cash and promissory notes directly injected into the banks, and a further €5bn gifted to the banks by NAMA in state-aid and for which we are now on the hook if property prices don’t recover. In a country whose GDP was €156bn…