Sean FitzPatrick was boss of the Anglo Irish Bank. He resigned in December 2008 when details of secret loans he had taken out with the bank were revealed. Fitzpatrick's loans totaling 155m from Anglo Irish have not yet been repaid, although he has retired on a pension of over 4 million a year.In the 1990s, Ireland modernised its education and infrastructure.
It developed low-tax, business-friendly policies.
Overseas Irish began to return to Ireland.
Ireland became successful in exporting food, IT services and software, pharmaceuticals and medical equipment.
Ireland became one of Europe's wealthiest countries, overtaking the UK.
In spite of the property and banking crisis, Ireland’s modern economy is holding up well.
But, the bankers and their pals have caused giant problems.
In Ireland, vast sums of money went into property speculation.
Ireland now suffers from:
tax rises
pay cuts
pension cuts
and public spending cuts.
On 15 May 2010, in The Financial Times (Toxic town ) we read:
"Encouraged by venal politicians who actively discouraged regulation... Irish banks went on a reckless lending spree.
"They lent, above all, to property developers...
"Every Irish citizen got saddled with many thousands of euros in debts..."
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