They acquired Claridge's, the Connaught and Berkeley from the National Asset Management Agency (Nama), the Irish government agency created to manage the toxic property loans of its bust banks.

BBC: Barclay brothers buy London hotel Claridge's from Irish

Mr Lenihan's later decision to set up an asset-management agency to take on the banks' dud property loans was also taken from the textbooks.

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The Irish government's National Asset Management Agency (Nama) has said it will try to revive Northern Ireland's commercial property market.

BBC: Nama to offer NI investors loans