Articles by Andrew Bushe and Roland Jackson
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Ireland Reveals Full Horror of Banking Crisis
Andrew Bushe and Roland Jackson – The Age,
4 Oct 2010
Ireland revealed the full horror of its financial crisis on Thursday [30 Sep 2010], saying massive debts run up by Anglo Irish Bank had threatened to sink the country. The Central Bank warned that the state rescue of Anglo Irish could cost as much as 34.3 billion euros (46.6 billion US dollars) and will help push the public deficit to a record 32 percent of gross domestic product this year. That would be the largest deficit for a eurozone member since the European single currency was created in 1999 and comes amid mounting investor concern about soaring levels of eurozone state debt.
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