Irish Property Bubble – Causes, Consequences, Lessons

Stefan Yotov

Economic Thought journal, 2011, issue 6, 22-38

Abstract: The main prerequisites are focused for the emergence of credit, construction and property boom, resulting in tremendous losses for the banking sector (saved with taxpayers' money) and in the necessity Ireland to be rescued from the sovereign bankruptcy by means of an international loan of EUR 85 billion. The too low interest rates after 1999 (when the country entered the Eurozone) and the low criteria for bank crediting are identified as key factors for the property boom. More stringent global regulations (especially in the banking sector) are required in the future in order to avoid the destructive recessionary effects of the credit and housing bubbles.

JEL-codes: H63 R21 R31 (search for similar items in EconPapers)
Date: 2011
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.ceeol.com/aspx/issuedetails.aspx?issuei ... f6-829b-47aad3d6a9c9
Fee access

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2011:i:6:p:22-38

Access Statistics for this article

More articles in Economic Thought journal from Bulgarian Academy of Sciences - Economic Research Institute Contact information at EDIRC.
Bibliographic data for series maintained by Diana Dimitrova ().