Spain Is Now Making Ireland's Mistakes
Harvard Business Review
JUNE 12, 2012
Just like Ireland, Spain had a credit boom financed mostly with external debt, which meant that the balance sheets of their banks are now stuffed with bad debts as asset values collapse. One of those banks, Anglo-Irish Bank, lent 67 billion euros to the non-financial sector (real estate) in 2007 alone.
Let's personalize your content