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The German monetary financial institution sector was the largest investor in Irish bank bonds during the pre-crisis period [10] and according to the Bundesbank's consolidated figures German banks had, by September 2008, the month of the bank guarantee, €135 billion invested in Ireland. [11]
The economy and government finances began to show signs of impending recession by the end of 2007 when tax revenues fell short of the 2007 annual budget forecast by €2.3 billion (5%), with stamp duties and income tax both falling short by €0.8 billion (19% and 5%) resulting in the 2007 general government budget surplus of €2.3 billion (1.2% of GDP) being wiped out.
The Economic Adjustment Programme for Ireland, usually referred to as the Bailout programme, is a memorandum of understanding on financial assistance to the Republic of Ireland in order to cope with the Post-2008 Irish financial crisis.
In the latest sign that the global recession has Ireland's "Celtic Tiger" in its cross hairs, credit rating firm Moody's Investors Service stripped the country's debt of its coveted highest rating ...
The Credit Institutions (Financial Support) Act 2008 (No. 18) is an Act of the Oireachtas (Irish parliament). It was emergency legislation passed by the Irish Government on Tuesday, 30 September 2008 and enacted on Thursday, 2 October to provide a €440 billion guarantee to six Irish banks to prevent possible collapse as a result of the Financial crisis of 2007–2008
Swiss bank UBS is set to shell out more than $1.4 billion to settle accusations of “historic” fraud relating to its role in the 2008 financial crisis.
Ireland’s housing crisis The specter of emigration has lingered in Ireland’s history, defined by a devastating famine between 1845 and 1852 that caused an estimated 2.1 million people to flee ...
Protestors outside Anglo Irish Bank during protests against the bank bailout in April 2010. The Anglo Irish Bank hidden loans controversy (also known as the circular transactions controversy) began in Dublin in December 2008 when Seán FitzPatrick, the chairman of Anglo Irish Bank (the state's third-largest bank), admitted he had hidden a total of €87 million in loans from the bank ...