As Irish ECB Borrowings Surge, The Country's Bank Run Picks

BottomsUp · December 30, 2010, 10:15pm

zerohedge.com/article/irish- … icks-speed

As Irish ECB Borrowings Surge, The Country’s Bank Run Picks Up Speed

Following the publication of the monthly Central Bank of Ireland flow statistics for November, that the country’s bank ended up borrowing another massive amount of capital from both Europe and the central bank itself, should not be surprising. After all it was in November that Ireland followed Greece into the insolvency abyss, a place where none other than Olli Rehn guarded the gates to feudal hell. However, one much more troubling factor is that the depositor run from Irish banks, a development which many have cited as potentially being the catalyst for the next major step down in the European house of cards tumble, is accelerating.

https://www.zerohedge.com/sites/default/files/images/user5/imageroot/havenstein/Irish%20Deposit%20Run.jpg

There is more.

johnnyskeleton · December 30, 2010, 11:15pm

Does this include private institutional, in which case we already new that, or private residential/corporate savings, or both?

I wish people who made graphs would take the time to explain exactly what data set they were using. I suspect it is both, in which case it is not as disasterous as one might initially think (given the losses reported about institutional deposits last month.

He also says:

Surely that can’t be right. If USD, that puts Irish GDP at c. €127bn yos.

Tyler Durden - good on fight clubs, shaky on the Irish banking sector.