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Briefing

Ireland: Banking Sector

Background:

In the late 1990s and early 2000s, Ireland was the economic golden child of Europe, with an enviable GDP and a high standard of living. Due to relatively high leverage and strong reliance on external funding, the global credit crisis delivered a major external shock to Ireland and forced the government to support its ailing banking sector. Irish banks bled money as a property bust set off a chain of defaults.

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Associated Readings

News Irish Times Simon Carswell Jun 16, 2009 Five institutions submit developer loan details to Nama Analysis Financial Times John Murray Brown Apr 07, 2009 Irish bank debt plan a first for Europe Analysis Irish National Treasury Management Agency Apr 09, 2009 Irish National Asset Management Agency - Indicative Term Sheet Analysis BNP Paribas Luigi Speranza and Eoin O’Callaghan et al Apr 08, 2009 To the Rescue: Ireland Announces Eurozone's First 'Bad Bank' Plan News Wall Street Journal Joellen Perry Feb 01, 2009 Analysis RGE Monitor Jeffrey Sachs Feb 06, 2009 A strategy of contingent nationalization Analysis University of Rome / CEPR Luigi Spaventa April 2008 Avoiding disorderly deleveraging: New Brady bond proposal Blogs Market Movers Blog Felix Salmon Mar 09, 2009 The Geithner Plan vs the Brady Plan Blogs Maverecon Willem Buiter Feb 08, 2009 Good Bank/New Bank vs. Bad Bank: a rare example of a no-brainer shared by Stiglitz, Romer, Soros Analysis Davy Research Feb 17, 2009 Irish banking liabilities - True figure is just over 300% of GDP, one-third of bogus ratio being quoted Analysis Independent Daniel McConnell Feb 22, 2009 Scandal sees €10bn flood out of country Blogs True Economics Constantin Gurdgiev Feb 22, 2009 Anglo Irish Bank Annual Report Analysis Financial Times John Murray Brown Jan 15, 2009 Ireland: Things fall apart Analysis Financial Times Dec 22, 2008 News Telegraph Ambrose Evans-Pritchard Nov 19, 2008 Markets wary of Irish debt as fresh rescue looms Analysis Central Bank of Ireland Sep 30, 2008 Government Decision to Safeguard Irish Banking System