anyone interested in ireland???
read below...
Irish property prices plunge 50 percent
17/09/2009 7:49:01 AM
Property prices in recession-hit Ireland have plunged by an average of 50 percent since the market peaked in 2007, its finance minister said Wednesday, unveiling a plan to bail out stricken banks.
Brian Lenihan told parliament he was proposing to create a so-called "bad bank" to clear up billions of euros (dollars) worth of property loans gone sour on the books of Ireland's banks and building societies.
He said Ireland was paying the price for the rapid expansion which earned the country's economy the nickname the "Celtic Tiger" and saw property prices soar on the back of cheap credit.
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http://money.ninemsn.com.au/article.aspx?id=864209
read below...
Irish property prices plunge 50 percent
17/09/2009 7:49:01 AM
Property prices in recession-hit Ireland have plunged by an average of 50 percent since the market peaked in 2007, its finance minister said Wednesday, unveiling a plan to bail out stricken banks.
Brian Lenihan told parliament he was proposing to create a so-called "bad bank" to clear up billions of euros (dollars) worth of property loans gone sour on the books of Ireland's banks and building societies.
He said Ireland was paying the price for the rapid expansion which earned the country's economy the nickname the "Celtic Tiger" and saw property prices soar on the back of cheap credit.
...
http://money.ninemsn.com.au/article.aspx?id=864209
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