Cost of banks rescue is nearly 40bn pounds

The video discusses Ireland's financial crisis, focusing on the unfinished Anglo Irish Bank HQ as a symbol of the country's economic troubles. It highlights the culture of easy loans that led to a systemic threat to Ireland's financial stability. The government bailout of Anglo Irish Bank is expected to cost taxpayers at least £25 billion, potentially increasing the deficit to 32% of GDP. The video also covers the impact on retail, with high rents and economic downturn leading to public anger and concern. The government's previous predictions of a soft landing were proven wrong, leading to significant economic challenges.

What was the primary cause of the financial instability related to Anglo Irish Bank?

• High interest rates

• Aggressive lending practices

• Lack of government regulation

• International market fluctuations

How much is the estimated cost of bailing out Anglo Irish Bank?

• £75 billion

• £50 billion

• £10 billion

• £25 billion

What was the purpose of the £340 billion guarantee by the Irish government?

• To increase public spending

• To boost international trade

• To save the banking system from collapse

• To reduce taxes

What was the impact of the economic crisis on Dublin's retail sector?

• Expansion of retail spaces

• Increased sales

• Stable rents

• Burst of the economic bubble

How did the public feel about the financial crisis and its long-term effects?

• Optimistic

• Angry and concerned

• Unaware

• Indifferent