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Ireland 2009 Recapitalization Program For Financial Institutions, Steven Kelly Nov 2021

Ireland 2009 Recapitalization Program For Financial Institutions, Steven Kelly

Journal of Financial Crises

At the November 2008 height of the Global Financial Crisis, Ireland’s Department of Finance announced a willingness to inject capital into the six largest banks. This announcement followed the issuance of a blanket guarantee of those banks’ liabilities in September 2008. After broadly designing the potential investments in 2008, the Irish government came to agreements with Bank of Ireland and Allied Irish Banks in February 2009 to inject €3.5 billion ($4.5 billion) in each bank in exchange for preferred equity stakes. The government funded the investments from the funds of the National Pensions Reserve Fund, something it would secure the …


Spain: Sociedad De Gestión De Activos Procedentes De La Reestructuración Bancaria (Sareb), David Tam, Sean Fulmer Jun 2021

Spain: Sociedad De Gestión De Activos Procedentes De La Reestructuración Bancaria (Sareb), David Tam, Sean Fulmer

Journal of Financial Crises

In the wake of the Global Financial Crisis, the Spanish real estate market struggled to recover, which posed significant issues for savings banks that had an outsized exposure to the real estate sector. The Spanish government created Sociedad de Gestión de Activos procedentes de la Reestructuración Bancaria (SAREB) in 2012 to buy impaired real estate assets from troubled banks and sell them over a 15-year period using funds from an up to €100 billion ($123 billion) loan from the European Financial Stability Facility. Its mandate was “to help clean up the Spanish financial sector and, in particular, the banks that …


“Beer & Hymns” And Community: Religious Identity And Participatory Sing-Alongs, Andrew Mall Jun 2021

“Beer & Hymns” And Community: Religious Identity And Participatory Sing-Alongs, Andrew Mall

Yale Journal of Music & Religion

As a series of loosely-organized events, “Beer & Hymns” started at the Greenbelt Festival in England in 2006 and migrated to the Wild Goose Festival in North Carolina in 2012. Local Beer & Hymns gatherings meet at bars, breweries, clubs, and pubs across the U.K., the U.S., and around the world. Most are not affiliated with a church or Christian denomination, instead relying on the energy of independent local organizers. Some attendees are regular churchgoers, other are not, but all find community in these sing-alongs—congregational singing, that is, outside of traditional congregational contexts. Beer & Hymns is exactly what it …