Parisien
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Lots of reasons......firstly, light touch regulation......secondly, lending then got out of control like...X100 times ....finally we all got used to cheap credit and borrowed stupidly.
Situation in Greece was very different....they were borrowing money as a country just to live on a daily basis.
Ireland.....since its inception was a poor country, then in the mid 90s found itself doing very well on the jobs/exporting front until the building sector took over, all went pear shaped in the end when the banks and developers colluded in their lending/building insanity
UK....their banks also guilty of poor lending and then poor control finacial from Labour.......too much money lent to other banks who equally lent foolishly....plus as we then had to spend a fortune baling out the banks.....we had to cut many budgets.....the country wasn't really living beyond its means then....but with cuts etc...............it soon was!
P
Situation in Greece was very different....they were borrowing money as a country just to live on a daily basis.
Ireland.....since its inception was a poor country, then in the mid 90s found itself doing very well on the jobs/exporting front until the building sector took over, all went pear shaped in the end when the banks and developers colluded in their lending/building insanity
UK....their banks also guilty of poor lending and then poor control finacial from Labour.......too much money lent to other banks who equally lent foolishly....plus as we then had to spend a fortune baling out the banks.....we had to cut many budgets.....the country wasn't really living beyond its means then....but with cuts etc...............it soon was!
P