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Real Estate Briefing - Categorized | Finance, Market Moves, Performance more

Real estate loans spur Irish recession

Posted on 07 October 2008

From UPI: A move by the Irish government to guarantee all $550 billion of the country’s bank deposits is a consequence of reckless real estate lending, analysts say.

When Ireland made the unilateral move last week, it surprised EU partners. But Sunday Germany announced that its government would guarantee private bank accounts as EU nations are being forced to confront the fact that their own lenders, as well as U.S. banks, made poor real estate bets, The Washington Post reported….. Full Article: Source


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