The Celtic Chernobyl

NAMA architect Peter Bacon described Anglo Irish Bank as a Celtic Chernobyl in an interview on Newstalk radio this morning. The government have already pumped €22 billion into Anglo, Newstalk report

Doctor Peter Bacon has told Breakfast here on Newstalk there’s much we still don’t know about Anglo’s liabilities, and the full picture won’t be a pretty one.

“There is a large property investment portfolio that is not eligible, as I understand it, to go into NAMA” he said.

“That resides to a significant degree with Anglo”.

“So I think that Anglo story is going to continue – I don’t think it’s at an end” he added.

No bio, some books worth reading – The Rational Optimist: How Prosperity Evolves – Matt Ridley .

Crisis Economics: A Crash Course in the Future of Finance -Nouriel Roubini, Stephen Mihm

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