i max kaiser this is the kaiser report i'm here in ireland kilkenny ireland there's a new song in ireland it goes like this on i'm looking over a three point six billion euro clover that i overlooked before you know it's the new president and the new minister of finance people have discovered a three point six billion euro hole in the accounting budget that they didn't see before such is the way things are going here in ireland stacy herbert yes max this is the luck of the irish speaking the irish are going to be the irish times here three point eight billion euros in cuts and tax increases coming in budget michael noonan the finance minister says e.u. i.m.f. bailout condition sacro sanct well you would think that two would match up you know i just talking about a three point six billion dollar magical leprechaun like find by the new president and this three point eight billion dollar requirement of cuts you think they would match up but of course in this world of economics we live in all the benefits accrue to all the same products and all the hysteria to be borne by the general populati

guys are this is the kaiser report i'm here in ireland kilkenny ireland there's a new song and it goes like the.

max kaiser this is the kaiser a part i'm at the coke anomic festival in kilkenny ireland and we're about to speak with constantine. is the adjunct lecturer in finance for trinity college dublin and holds a number of other senior research positions of international companies and organizers he was also mentioned in today's irish times as one of the new breed of economic rock stars constantine welcome to the kaiser really works and to be here all right let's talk about this i know iris d.l. is this is the really the talk of the conference so far so give us more background on this and some of the numbers and what's going forward while the background is related anglo irish bank at the mises the destruction of the conservative banking system around the world is probably the most reckless ledger we had in the advanced economies during the latest boom which predates the current crisis it was the bank which was known as the parking lot bank because that's the amount of time it took them to approve multi-million euro along by the time the sales person leaves the client the loan would be approved b