UPDATE: Japanese Insurance (€43B) Less of a Financial Disaster than Irish Banks (€50B-€106B)

  1. The Canadian PressJapan’s quake, tsunami may cost insurance industry up to $60B [€43B], almost like Hurricane Katrina
  2. TheJournal.ieIrish banks need €50bn, says Anglo chairman
  3. Vanity Fair, Michael LewisWhen Irish Eyes Are Crying: An Irish economist named Morgan Kelly, whose estimates of Irish bank losses have been the most prescient, made a back-of-the-envelope calculation that puts the losses of all Irish banks at roughly 106 billion euros. (Think $10 trillion.) At the rate money currently flows into the Irish treasury, Irish bank losses alone would absorb every penny of Irish taxes for at least the next three years.
  4. MarketWatch.comJapan quake may cause $25 bln [€18B] of insured losses – Insurer Ace releases higher-than-expected quake loss estimate: Insured losses from Friday’s earthquake in Japan may reach $25 billion, catastrophe-modeling firm Eqecat estimated Wednesday.
This entry was posted in Accountability, Audio/Video, Bankers' Bailout, Budget, Debt Default/Restructuring, ECB/IMF, Economy, EU, Housing Bubble, ireland and tagged . Bookmark the permalink.

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