Ireland and America, The 2008 Crash - Part 2

What happens when the belief “sure everyone pays their mortgage” no longer holds as happened in 2007. Developers, then and now, are hugely reliant on bank funding in order to build apartments and houses in volume. After the Euro was adopted here in 2002, buckets off cash were available from European banks, especially German banks, and this cash found its way into Irish banks and then Irish developers. We see how all these big movements contributed to a crash in the world economy and depression in Ireland.Warning: This podcast does not constitute financial or tax advice.  Please contact a financial advisor or tax advisor to discuss your own individual circumstances, taking into account your needs and objectives, knowledge and experience and financial situation.