My initial thoughts were that a lot of it could be in the hands of criminal/subversive elements but I'm guessing they'd have tried to convert it somehow a good while back.
It was widely reported around the time of the changeover that some very nasty individuals here in Limerick were leaning on people in particular areas to take "interest free loans" from them to clear mortgages etc. The upside of this uncharacteristic philanthropy was that the repayments would be streaming back in Euros.
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