The Year in Review: The euro

[eshrag]

http://www.independent.co.uk/multimedia/dynamic/00522/EURO_522492k.jpg On 29 September, a cement lorry, with the words "toxic bank" and "Anglo" painted in red letters on its sides, was driven into the gates of Leinster House, Dublin – the home of the Irish parliament. A 41-year-old property developer, Joe McNamara from Blackrock, County Galway, reportedly owed Anglo Irish Bank €3.5m. Mr McNamara provided a wonderful metaphor for the financial crisis. In Ireland a property bubble had burst and pulled the vital construction sector down with it; the banks' lending had turned sour; the banks had then to be rescued by the politicians, first in their own nation, and then by the Germans. It was all, like Mr McNamara's raid, unexpected, rapid and messy.

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