bank bail-out because “reckless lending” by international banks to Irish banks contributed to their collapse

<p>European authorities should share the cost of Ireland’s €63bn ($84bn) bank bail-out because “reckless lending” by international banks to Irish banks contributed to their collapse, the Irish government has said. <br /><br />Michael Noonan, Ireland’s finance minister, gave warning on Wednesday that the huge cost of bailing out Irish banks with taxpayers money was driving up national debt and posing a risk to the country’s economic recovery. <br /><br /><br />“We as a country have borne a disproportionate share of protecting the European banking system by the actions we took,” said Mr Noonan in a briefing to European journalists.<br /><br />Ireland faces a €63bn bill for recapitalising its main banks, which have all required state bail-outs to cope with a property crash and banking crisis. The cost of the banking bail-out forced the previous government to turn to the European Union and International Monetary Fund for a €85bn bail-out last year.</p>

bank bail-out because “reckless lending” by international banks to Irish banks contributed to their collapse

European authorities should share the cost of Ireland’s €63bn ($84bn) bank bail-out because “reckless lending” by international banks to Iri...

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