A decade on, have lessons of economic crash been learnt?

Exactly 10 years ago, the Irish banking system imploded. Dan O’Brien looks back as the causes and consequences of the crisis

(stock picture)
(stock picture)

This month marks the 10th anniversary of the most significant event of the 21st Century so far, both for Ireland and for the western world. Its implications will be pondered for decades to come, just as the 1929 crash, the Great Depression and all that followed those events continue to be debated to this day.

Ten years on from 20th Century’s worst financial and economic crisis, the most violent conflict in history had started. Despite frequently made parallels between the present and the 1930s, the world is, mercifully, not on the brink of a global conflagration. If there has been a shift from democracy towards autocracy over the past decade, it pales in comparison with the totalitarianism of the Hitlers, the Stalins and the Mussolinis that went on to decimate Europe and much of the rest of the world.

The wider international implications of the earthquake that took place a decade ago will be explored in another column later in the month. Today, the focus is the home front.

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