Ireland's Long Road Back to Economic Health

Ireland's banks have grown far too large for an economy its size. The assets those banks hold are rooted in property prices that were unrealistically high at the time the loans were made, meaning all of Ireland's domestic banks are technically insolvent or worse, and Ireland's inability to generate capital locally means that it is utterly dependent upon foreigners to bridge the gap. Dealing with this conundrum will take the Irish a decade at minimum.