Fianna Fáiled: Ireland Prints 25% of its GDP in German Euro’s

Posted on January 17, 2011
by Jack H Barnes


The Celtic Tiger has been on the economic ropes since the crash of 2008. In the first hours of the crisis, the US Federal Reserve provided emergency funding to Irish banks, pouring 10’s of Billions of US dollars into the Irish Banking system, providing funds as needed. These funding events helped stabilize the banks, during the winter of 08-09.

“The scale of AIB’s borrowing from the scheme is enormous given its relatively small size in the US. Barclays Bank, which bought Lehman’s US operations out of bankruptcy, borrowed $232bn (€174 bn) from the Fed scheme.â€