Germans Gambled €88.4B on Kasino Irland

So that’s why they’re so big into fiscal rectitude… From the Irish IndependentGerman exposure to our banks at €21.3bn:

Details of Germany’s significant interest in the outcome of the Irish crisis comes as the Government pushes European countries to do a deal so Ireland’s debt levels won’t become “unsustainable”.

Figures published by Germany’s Bundesbank yesterday show German banks had “foreign claims” totalling €88.4bn on Irish entities at the end of last year…

Germany, along with other European countries, has been vigorously opposing Ireland’s efforts to enforce losses on certain categories of bank bondholders.

Read more.

This entry was posted in Accountability, Bankers' Bailout, Budget, Debt Default/Restructuring, ECB/IMF, Economy, EU, Euro / Sovereign Money, Geopolitics, Housing Bubble, ireland and tagged , , . Bookmark the permalink.

One Response to Germans Gambled €88.4B on Kasino Irland

  1. Pingback: Germany owns Europe: during boom bankers went out way to get dirty, needed to go abroad to (Vanity Fair/Michael Lewis) |

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