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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 ...
By the second quarter of 2010, house prices in Ireland had fallen by 35% compared with the second quarter of 2007, and the number of housing loans approved fell by 73%. [1] [2] The collapse of the property bubble was one of the major contributing factors to the post-2008 Irish banking crisis.
The anti-austerity movement in Ireland saw major demonstrations from 2008 (the year of the Irish economic downturn) to 2015. [1]The protests began during October 2008 after the Fianna Fáil–Green Party coalition of the 30th Dáil oversaw the implementation of the bank guarantee, and were given further impetus by the late 2010 intervention of the European Union/European Central Bank ...
Bank stocks led the market higher over the past couple of weeks -- the KBW Bank Index of 24 big financial institutions surged 62 percent from March 6 to last Wednesday, compared to a 16 percent ...
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