Cash outflows of €20bn in crisis years 2010/11 unexplained

Cash outflows of €20bn in crisis years 2010/11 remain unexplained - → … 8749.shtml

Maybe the Eur Wedge On De Edge thread that started in 2010 offers a clue.

Wasn’t this about the time Evilal was making regular trips to Germany to stash his ill/good gotten gains :laughing:

That lunatic. I’m glad he doesn’t post here anymore! :slight_smile:

Our old friend Section 10 of the Anglo Nationalisation bill, perchance?

I think there was a lot of ‘hot’ deposit money in Anglo and others. Not hot, maybe, in the illegal sense, just hot in the sense that it had not ties to Ireland and was purely looking for yield. As domestic deposits didn’t really leave the country, this is the bundle of deposits that the ECB ELA and the bailout covered (though the pain would have been spread equally with domstic depositors in the event of a haircut).

My belief is that this is also the unsustainable deposit flow into Ireland that fuelled the bubble - the deposit flow that I believe the ECB should have been monitoring and doing something about.