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Ireland's Fate Tied to Doomed Banks

Wall Street Journal Original article ›

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The final cost of rescuing Ireland's banks according to Irish Finance Ministry officials is 50 billion euros, nearly $50,000 for every household in Ireland! But now investors fear the figure may be even higher. The miscalculations at the Finance Ministry have continued for 2 years. In December 2008, 1.5 billion euros were set aside for Anglo Irish Bank, going up eventually to 22.9 billion euros, and in September 2010 an additional 11.4 billion euros were added to that amount. The Irish banking crisis continues just as the 16 euro-zone countries have agreed to guarantee 440 billion euros in loans if any of the countries is unable to borrow from private markets.

Ireland's austerity measures and banking crisis.

04/03/2009

Grouped Articles

In Ireland, Hope of Retroactive Relief

Wall Street Journal 06/29/2012

Ireland Faces Seventh Year of Austerity

Wall Street Journal 10/16/2013

Hardships Linger for a Mending Ireland

New York Times 12/11/2013

The Orphans of Ireland

New York Times 04/03/2009

Support of Anglo Irish Bank Strains Ireland

New York Times 08/31/2010

Ireland Faces Battle Over Europe Stability Treaty

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