The Sunday Times, May 3 2019, by Aongus Buckley.
A note from the Central Bank this week discussed the fact that property continued to account for about 70 per cent of total lending at Irish banks even as they restructured after the crisis. [……]
While banks around the world have turned into mortgage-machines, the bank’s note pointed out that Ireland is worse than most countries, because the multinationals operating here are not funded by Irish banks. This shows that measures to restrain the mortgage market are necessary, but may not be sufficient. [……]
Almost everyone would agree that the Irish banking system has been radically transformed over the past dozen years. In 2006, the system had total exposures of €272 billion and was at the height of a boom. [……]
As boom turned to bust, the non-performing… [……]
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