The economy of Ireland was driven to misery by its major banks. In 2008, enormous losses unfolded from the institute's property-related speculations. In order to prevent multiple bank insolvencies, the Irish government decided to guarantee towards their depositors extensively and taxpayers shouldered the burden of debt. At first this paper links Ireland's economic reorientation to its history. Besides recounting crucial events, the main focus of this work is on explaining the conditions that gave rise to the Irish banking crisis.
Table Of Content
1 Rise of the Celtic Tiger
2 Ireland's Economic Reorientation
3 Collapse of the Irish Banking Industry
4 Crisis Management
4.1 A Governmental Blanket Guarantee and Capital Injections
4.2 The European Union and International Monetary Fund-Programme
4.3 Rearrangement of the Irish Banking System
4.4 Restructuring of Credit
5 Conditions that Facilitated the Crisis
5.1 Liberalization of the Banking System
5.2 The Availability of Cheap Money
5.3 Relying on Market Powers and Good Corporate Governance
5.4 Financial Regulation and its Weaknesses
5.5 Moral Hazard
6 Conclusion
7 References
- Citar trabajo
- Anónimo,, 2015, The Irish Banking Crisis, Múnich, GRIN Verlag, https://www.grin.com/document/295479
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