Ireland
Irish governor hopes SSM can avoid a 'nationalistic backlash'
Patrick Honohan sets out hopes and fears for a centralised regulator, warning incomplete implementation of banking union could result in 'divisive clashes'
Ireland passes emergency liquidity restructuring bill
Irish parliament passes bill to transform promissory notes into long-term sovereign bond, and wind up 'bad bank'
Ireland aims to cut cheque use by two thirds in three years
Central Bank seeks to reduce cheque usage in line with European average, with the potential for significant reductions in the cost of payments
Central Bank of Ireland drops growth forecast for 2013
Irish central bank lowers growth expectations in 2013 in response to weaker global demand; targets increased productivity in domestic economy
Irish deputy governor says economy has ‘little safety margin’
Stefan Gerlach says while growth may show a modest recovery this year, even a small shock to market confidence could complicate an exit from the IMF programme
Irish governor bemoans sustained large sovereign spread
Patrick Honohan says the cost of Ireland’s funding still reflects a credit risk premium; Government’s €2.5 billion bond issuance met by ‘strong’ investor response
Irish research measures domestic and imported inflation
Paper studies balance of internal and external factors behind sharp deflation during financial crisis; finds domestic economy is important determinant
IMF fears Ireland could still lose access to markets
Eighth review of extended fund facility says Ireland’s newly regained market access is ‘fragile’ and could be lost if European commitments to ESM funding and OMTs are not followed through
Study highlights Ireland’s ‘high’ external debt
Central Bank of Ireland economic letter shows that Ireland’s gross external debt is high by international standards, but lower than headline figures
Central Bank of Ireland to toughen penalties for financial crime
Irish central bank looks to harden sanctions for financial crime, including doubling maximum fines and the possibility of criminal prosecution for top managers
Irish central bank to hold first meetings outside Dublin
Central bank of Ireland to hold series of events in Galway, including first ever formal meeting of the governing board outside Dublin; further events planned for the future
Strategic plan for Ireland revealed
Central Bank of Ireland targets reform of regulatory and supervisory framework; aims to exit from EU-IMF support programme by 2014
Portuguese and Irish officials support banking union
Bank of Portugal governor and Central Bank of Ireland chief economist offer support for the creation of a deposit guarantee scheme and banking resolution fund in Europe
Troika praises Ireland for ‘steadfast’ adherence to programme
Conclusion of eighth programme review says Ireland likely to meet deficit target this year; Portugal by contrast facing ‘strong headwinds’ to fiscal adjustment with 2012 targets beyond reach
Ireland’s Muldoon demands leadership from banks
Central Bank of Ireland director Fiona Muldoon says the country’s banks must show greater leadership, courage and hard work
Irish deputy governor calls for fiscal surpluses
Stefan Gerlach analyses different approaches to debt reduction; finds fiscal surpluses are the most suited to the current financial environment
Ireland unlikely to comply with fiscal compact until 2020
Central Bank of Ireland 'economic letter' estimates it may be 2020 before Ireland complies with the EU fiscal compact’s structural deficit target
Banks could cut bail-in risk, says BoI capital head
Banks could issue more subordinated debt to protect senior creditors from the threat of a bail-in – in theory. But Bank of Ireland capital head says market is too thin
Irish deputy governor seeks to adapt funds regulation
Matthew Elderfield announces changes the Bank of Ireland will make to regulatory framework for investment funds; says the central bank will move its authorisation system online
Irish deputy governor analyses monetary policy’s role in stability
Stefan Gerlach explores the dynamic between using monetary policy and macro-prudential policy to address financial stability; says the two can be used in tandem, with considerations
Irish governor says senior creditors must take share of losses
Patrick Honohan wants the losses of failing banks to be shared with senior creditors; says governments’ rescue options are limited when debt is socialised
Central Bank of Ireland highlights tight credit conditions for SMEs
Economic letter shows rejection rate for small and medium-sized enterprises in Ireland is second highest in eurozone; identifies slight improvement since Q4 2011
Central Bank of Ireland warns over unlicensed banks
Concerns raised abroad lead Irish central bank to caution consumers against dealing with two illegal firms; both ‘banks’ have offered banking services without having the necessary licence
Central Bank of Ireland highlights varied success of aid programmes
Research note examines progress of five European countries with EU-IMF programmes towards meeting debt sustainability targets; warns Ireland is likely to miss targets