Who do you think was the biggest loss making financial institution in the world last year? Lehman Brothers? AIG? Citibank? No, it was not a major bank in a major world economy - it was a relatively small developers' bank in Ireland - Anglo Irish Bank. What's more, Anglo Irish Bank is likely to be the biggest loss maker again this year!
Albert Einstein once defined insanity as doing the same thing over and over again and expecting different results each time. In the last three years successive budgets have resulted in €20 billion being taken out of the Irish economy through austerity and have drastically worsened the present economic crisis.
