European Union attention swung to Ireland on Thursday (30 September) as the government revealed the full extent of the country's banking crisis, likely to result in a budget deficit of 32 percent of GDP this year.
The total cost of the bailouts for Irish banks could run to €50 billion, with the lion's share of this going to the massively indebted Anglo Irish Bank, potentially needing as much as €34.3 billion and certainly no less than €29.3 billion.
"Anglo Irish developed to a siz...
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