Want To Ruin Your Own Country? Assume Your Banks’ Liabilities

[98valk]

http://gonzalolira.blogspot.com/2010/12/want-to-ruin-your-own-country-assume.html


Compare-and-contrast the fates of Ireland and Iceland:


Both had the same problem: Disproportionately large banks for the size of their respective economies. Both banking sectors of both countries had taken on liabilities which rendered them vulnerable as a baby’s belly to a falling knife.