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Ireland fits in the small country with large internationally active banking sector category alongside Iceland and Switzerland (which, in case you haven't noticed, is in a panic over the spillover from the Euro crisis into the macroeconomic and financial stability of its tiny economy). That's why Ireland's banks blew up in 2008, just like the Icelandic ones and the Belgian (Dexia and Fortis) did.

Oh, and don't forget Cyprus. They're a hedge fund too, and are duly under market attack.

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Thu Sep 8th, 2011 at 04:14:54 AM EST
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