Zerohedge: “Ireland is basically all bank, no physical economy”


From Reggie Middleton at ZeroHedge.comIt Looks Like Ireland Is About To Get Those Leprechaun Clippers Ready – Haircuts, Here We Come!:

To make a long story short, Ireland is basically all bank, no physical economy. That leveraged facade of progress was bound to come crashing down, and it currently is. The scary part is that Ireland is in no way alone in this predicament. Now, with that out of the way, let’s see what’s happening in today’s news…

Irish Stress Tests May Leave Government in Control of Banks

Read more.

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This entry was posted in Bankers' Bailout, Debt Default/Restructuring, EU, Housing Bubble, ireland and tagged , , , , . Bookmark the permalink.

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