Great news for people who intend on splurging big in France next summer. AIB are offering loans of up to €30,000 for fans to travel to Euro 2016.
The interest rate on the loans is just under 10% with the length of the loans stretching from between one and five years.
Charlie Weston in the Irish Independent helpfully reminded us that this was the same AIB which had to be bailed out to the tune of €21bn by the Irish taxpayer. That AIB.
Tommy Martin said what we were all thinking.
AIB are giving out loans of up to €30,000 for Euro 2016 jaunts. At last, sensible, prudent lending practices in Ireland.
— Tommy Martin (@TommyMartinTV3) December 17, 2015
AIB were criticised by Labour TD John Lyons and the head of the Irish Consumer Association. A spokeswoman for the bank said that applicants can seek loans of amounts ranging between €1,000 and €30,000 and they were confident that 'the majority of Euro 2016 loans will be at the low end of the scale'.
The last recession was caused by a property bubble which almost caused banks in Ireland to collapse (well, they would have collapsed had the government not stepped in).
The next recession will be caused by mass defaulting on Euro 2016 loans.
