*  *  *  Bank buildings in the 19th and 20th Centuries were everywhere designed to project confidence. As Michael O’Neill observes in this delightful book, the grand bank buildings which represent such an important component of Victorian Dublin were establishments “built as statements of intent...like churches, they suggest permanence, stability, longevity”.
Before going into the details, I would just like to set the stage by describing the macroeconomic situation of Hungary in mid-2008. Looking back into the pre-crisis years, it might even seem to be a peaceful, relatively prosperous period. Until early 2008 all segments of the financial markets enjoyed ample liquidity, GDP growth was driven by dynamic exports.