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2010-11-18

The Irish government has issued guarantees to its banking system worth approximately 176 percent of GDP

The Irish government has issued guarantees to its banking system worth 
approximately 176 percent of Irish gross domestic product.  

Irish banks, increasingly shut out of private markets, have grown ever more reliant on liquidity provided by the ECB.
 

Source: Jacob F. Kirkegaard, research fellow at the Peterson Institute for International Economics, 
New York Times November 17, 2010

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