In 2006 the Irish government and Irish banks stimulated an already over-heating property market by providing tax breaks and 95 and 100% mortgages to first time buyers. The result was economic Armageddon, the government guaranteed the banks and the Irish taxpayers footed the bill.
In 2014 the Irish government announces plans to stimulate an overheating property market by offering to guarantee mortgages as high as 95% for first time buyers with Irish taxpayers on the hook for any future default.
Are we really going to do this all over again???