Open Access. Powered by Scholars. Published by Universities.®
- Institution
- Publication Type
Articles 1 - 2 of 2
Full-Text Articles in Entire DC Network
Ireland And Iceland In Crisis D: Similarities And Differences, Arwin G. Zeissler, Daisuke Ikeda, Andrew Metrick
Ireland And Iceland In Crisis D: Similarities And Differences, Arwin G. Zeissler, Daisuke Ikeda, Andrew Metrick
Journal of Financial Crises
On September 29, 2008—two weeks after the collapse of Lehman Brothers—the government of Ireland took the bold step of guaranteeing almost all liabilities of the country’s major banks. The total amount guaranteed by the government was more than double Ireland’s gross domestic product, but none of the banks were immediately nationalized. The Icelandic banking system also collapsed in 2008, just one week after the Irish government issued its comprehensive guarantee. In contrast to the Irish response, the Icelandic government did not guarantee all bank debt. Instead, the Icelandic government controversially split each of the three major banks into a new …
Life After Austerity: Did Ireland Succeed & Greece Fail? A Modern Money Approach, Madhurima Das
Life After Austerity: Did Ireland Succeed & Greece Fail? A Modern Money Approach, Madhurima Das
Senior Projects Spring 2016
This project examines the imposition of austerity measures on two periphery countries in the Eurozone – Greece and Ireland – after the global financial crisis that erupted in 2007. Ireland was the first economy to both enter and exit the crisis. Greece is still reeling from it, 9 years later. This project offers a detailed analysis of the policy response and economic conditions in each country, and reveals that Ireland’s success is illusory. Even though Ireland exited the crisis in 2013, their ‘success’ was in part due to the relatively small size of fiscal contraction, the rebuilding of private sector …