We came through fairly unscathed — let’s hope this the end of it all

THE first real signs that the Irish banking system was in deep trouble appeared on March 17, 2008.

In what became known as the ‘St Patrick’s Day Massacre’, the share prices of Irish banks went into freefall following the collapse of the US investment banks Bear Stearns. The global financial edifice was about to crumble as the true extent of the US subprime crisis became evident.

The banking ‘house of cards’ eventually cost the Irish taxpayers roughly €64bn.