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Thread: Foreign Funding For Irish Banks in 2008: 80% UK & 13% US Sourced, only 2% from Eurozone

  1. #1

    Default Foreign Funding For Irish Banks in 2008: 80% UK & 13% US Sourced, only 2% from Eurozone

    Banking data for Ireland seen by "The Irish Times" indicates that direct euro zone lending to Irish banks was almost irrelevant to the bubble in Ireland. Sounds like Anglo the Musical needs to be rewritten.

    "by mid-2008 the UK-sourced funding in Irish domestic banks was 80 per cent of the total. US-based funding accounted for 13 per cent in 2008, while 5 per cent came from off-shore funding, where the nationality of investor is not clear. Which leaves 2 per cent of total Irish bank funding directly from the euro zone."

    Something we could already tell from simple observation in Ireland is now finally confirmed too by official data. Besides the Irish investors we are bailing out UK and US based depositors and bondholders in Irish banks. I'd like to see more of this data from the Irish Times.

  2. #2
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    It is all over this forum that the Germans deliberately bankrupted this country by lending us a whole lot more than they should have.

  3. #3

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    Quote Originally Posted by shiel View Post
    It is all over this forum that the Germans deliberately bankrupted this country by lending us a whole lot more than they should have.
    maybe time to learn the truth about our banks.
    Last edited by YouKnowWhatIMeanLike; 3rd April 2013 at 12:30 AM.

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    But, but Shane Ross and his fellow populist gobsh1tes keep saying that we bailed out German Banks.

    It's all the Germans fault. Isn't that right?

    In all seriousness the country that should be the most annoyed by the Eurozone problems are the Germans.

    Lived prudently. Then have to bail out idioticly run countries and then get viciously blamed for telling them to live within their means.

    I'd say the temptation for the Germans to tell them to all f##k off is unreal.

  5. #5

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    Quote Originally Posted by Marvar88 View Post
    But, but Shane Ross and his fellow populist gobsh1tes keep saying that we bailed out German Banks.

    It's all the Germans fault. Isn't that right?

    In all seriousness the country that should be the most annoyed by the Eurozone problems are the Germans.

    Lived prudently. Then have to bail out idioticly run countries and then get viciously blamed for telling them to live within their means.

    I'd say the temptation for the Germans to tell them to all f##k off is unreal.
    but so far the blackmailing worked well, the Germans keep funding the bailout take on the Anglo debt for the next 40 years. It all goes to plan. Our bankers in the city will be delighted.

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    Politics.ie Member Volatire's Avatar
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    Quote Originally Posted by YouKnowWhatIMeanLike View Post
    Banking data for Ireland seen by "The Irish Times" indicates that direct euro zone lending to Irish banks was almost irrelevant to the bubble in Ireland. Sounds like Anglo the Musical needs to be rewritten.

    "by mid-2008 the UK-sourced funding in Irish domestic banks was 80 per cent of the total. US-based funding accounted for 13 per cent in 2008, while 5 per cent came from off-shore funding, where the nationality of investor is not clear. Which leaves 2 per cent of total Irish bank funding directly from the euro zone."

    Something we could already tell from simple observation in Ireland is now finally confirmed too by official data. Besides the Irish investors we are bailing out UK and US based depositors and bondholders in Irish banks. I'd like to see more of this data from the Irish Times.
    I see the PropagandaMinisterium is in overdrive.

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    in 2008 the bubble was well and truly burst.
    all the german money was lent out on overvalued property at that late stage. also there was very little lending going on in 2008 so i am not surprised by the title of this thread.

  8. #8

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    Quote Originally Posted by Eire Nua View Post
    in 2008 the bubble was well and truly burst.
    all the german money was lent out on overvalued property at that late stage. also there was very little lending going on in 2008 so i am not surprised by the title of this thread.
    what ever was there in 2008 was guaranteed by FF and led to the fall of the state.

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    Politics.ie Member gerhard dengler's Avatar
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    Table A 4.2 shows the source of funding throughout the Covered Irish Banks, as supplied by the Irish Central Bank.
    Central Bank of Ireland - Money and Banking

    The liabilities tab on Table A 4.2 will show that funding from the Irish Residents, Eurozone and the Rest of the World.
    616 billion deposited in to the Irish (Covered) Banking system.

    Politics.ie moderators should moderate instead.
    Welcome to Political Irish | Political Irish

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    Politics.ie Member Volatire's Avatar
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    Utter drivel.

    When an Irish bank issues a bond through a London broker-dealer, it shows up in the Irish CB data as a "rest of world" security, even when the buyer is a German pension fund.

    The Irish central bank has never tracked beneficial ownership of Irish bank debt, for the obvious reason that it does not have the capacity to query foreign financial institutions about their holdings.

    The Bank of International Settlements does that, and their dataset tells a very different story.

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