Ireland spent 37.3% of GDP on bank bailout costs

April 9, 2015 2:26 PM

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Ireland’s bank bailouts cost the country the equivalent of nearly 40% of its annual economic output, most of which it is unlikely to see again, new figures show.

The ECB publishedestimates of the direct cost to eurozone countries and Britain of supporting their financial sectors, chiefly banks, from 2008 to 2013, and how much of the money spent had gone into assets that might generate a return for governments.

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