The three ex-employees are the first bankers to be imprisoned for actions that helped turn the Celtic Tiger boom to bust Three officials from the bank that nearly bankrupted Ireland have become the first bankers to be jailed for offences related to the Republic’s financial crash.
The failure of Anglo Irish Bank,which became synonymous with the casino-style lending practices that drove Ireland’s “Celtic Tiger” boom and subsequent bust, cost the state €30bn (£21bn), or portion of what forced the government to seek a bailout from the European Union and the International Monetary Fund. Continue reading...
Source: theguardian.com