Thread: Ireland ….& Real Estate

Once Ireland was economically strong… it was a miracle in Europe.
Speculation is the reason for this crisis. Real estate boom driven by real-estate developers is the cause for this kind of tragedy. Real-estate frenzy was financed by Irish banks for which they borrowed huge money from other European countries. This boom turned in to a bubble.
Now this bubble has burst and Irish banks became bankrupt. Then the government made mistake. Government guarantied debts of banks. By which private losses became public obligation

Now the entire nation is in crisis due to some body’s greed….!!!!!!

Now in our country some corruption stories are coming out … LIC HOUSING, PS BANKS …… Will these corrupted politicians and employees lead our country to a crisis?