Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
You are not helpful. The Irish central bank and Ireland in general did not really regulate its own banks. Your theory that that was somehow the responsibility of other regulators to regulate Irish banks let's your neoliberal irish friends of thew hook. Instead it is evil foreigners.

There is no exposure of german banks to genuine irish banks. What happened is that Ireland was because of its no regulation and ultra low corporate taxes a welcome tax and regulatory haven for daughters of foreign banks. One was depfa, others were big SIVs of WEtsLB for example. The cost for these daughters is already borne by Germany. The exposure to genuine Irish banks, who ruined themselves in real estate, was always low and is after two years almost nonexistent.

This whole foreign banks would lose is just a xenophobic talking point to distract the Irish from the responsibility of their own banks and government.  

by IM on Fri Feb 4th, 2011 at 02:22:03 PM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Top Diaries

Occasional Series

24 July 2014
by dvx - Jul 23
59 comments