The reason why the UK banks are in such a state......

Parisien

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Lloyds alone lent 27 billion euros in value to Irish banks/property developers.....am sure the rest and the French and German banks picked up the tabs for the rest of both the 90 billion eurozone bale out and the main reason for the state of UK banks in particular, no wonder no one wants the Irish system to default....;)

During this year there will be four "distressed" property auctions in Dublin.......1st is in April, one property sold before the abyss developed was sold then for 900,000 euros, now has a maximum reserve of 220,000.....75% reduction.......hhhhmmm...

P