BY THE END OF 2010 - IRISH BANKS MAY WELL BE TAKEN OVER BY THE IRISH STATE.
THIS WILL SPELL MAJOR TROUBLE FOR THE GERMAN BANKS WHO ARE OWED
200 BILLION EUROS BY THE IRISH BANKING SECTOR . MOST OF THESE LOANS
ARE SECURED AGAINST EMPTY PRIVATE PROPERTY ALL OVER IRELAND

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http://www.herald.ie/opinion/columnis...

GERMAN BANKS ARE OWED IN TOTAL 500 BILLION EUROS FROM THE ' PIGS ' - OF THESE ,THE LARGEST DEBTOR BY FAR , IS IRELAND - ESTIMATED LOAN AMOUNT 150 -200 BILLION .

http://www.independent.ie/opinion/col...