Lough Derg: the spirit of a holy place

IMAGE Wednesday, 04 April 2012
A small island in a lake called Lough Derg is one of the most famous of Ireland's places of pilgrimage. About 35,000 pilgrims come to it each year intent on doing penance for their sins or seeking divine intervention in their lives. Read More...

Nantes-Brest Canal, Brittany's popular leisure waterway

IMAGE Friday, 07 October 2011
The Nantes-Brest Canal is a 364 km long waterway connecting the city of Brest, on the west of Brittany, to the city of Nantes in the south east. Read More...

The shrine of the Cailleach at Glen Lyon

IMAGE Wednesday, 07 September 2011
Each year, in one of the most remote areas of Scotland, a family of stones are brought out of the house in the spring and returned to the house for the winter. The tradition stretches back thousands of years and the site is believed to be the only surviving shrine to the Celtic goddess Cailleach. Read More...

Newport Celtic Festival and Highland Games, Oregon

IMAGE Tuesday, 17 May 2011
A cultural celebration of the seven Celtic nations, the new festival on the Oregon coast features Celtic music, dance, food, drink, crafts, vendors, kids events, family histories and Highland Games. Read More...

World's largest tidal power project

IMAGE Thursday, 07 April 2011
The world's largest tidal stream energy array will be built in the Sound of Islay on Scotland's west coast. Read More...

Wales' new devolution settlement

IMAGE Thursday, 03 March 2011
Following the 'Yes' victory in the 3 March 2011 Referendum, Wales will now be able to pass its own laws in twenty policy fields. Read More...

The Giant's Causeway, a UNESCO World Heritage Site

IMAGE Thursday, 03 March 2011
The Causeway Coast in Northern Ireland has an unparalleled display of polygonal columns of basalt rock resulting from a volcanic eruption 60 million years ago. Read More...

Irish Government nationalises Allied Irish Banks

Government forced to use funds from National Pensions Reserve to save Ireland's largest bank from collapse.

Government forced to use funds from National Pensions Reserve to save Ireland's largest bank from collapse.

Allied Irish Banks (AIB) is now effectively nationalised after the Irish Government had to inject a further €3.7 billion of capital to rescue the bank.

AIB, which is still suffering losses on bad loans from the property boom, had been unable to attract sufficient finance from private investors.

The rescue, approved in December 2010, means the Irish Government will effectively own 96% of the bank by February 2011.

AIB, which has so far received a total of €7.2 billion from the Irish Government, had a market value of just €432 million in December 2010.

Once Ireland's largest bank, AIB was the fourth of Ireland's called 'Big Six' financial institutions to be nationalised following Anglo Irish Bank, Irish Nationwide and EBS Building Society.

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Celtic Countries is the online magazine for people who enjoy the Celtic nations, their natural splendour, culture, and lifestyles.

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