Spain Is Now Making Ireland's Mistakes
Harvard Business Review
JUNE 12, 2012
And yet in the run up to the collapse in 2007, the combined asset footprint of the three main Irish banks was around 400 percent of GDP. In March 2006, Spanish unemployment was 8.1 In Ireland a National Asset Management Agency was formed to cleanse private banks' balance sheets and disburse the bad loans over a longer period.
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