Ireland
Central Bank of Ireland urges continued austerity despite slowdown
Any scaling back of fiscal adjustment runs risk of unwinding positive effects of €28 billion consolidation effort ‘for the sake of small short-term fiscal easing', bank argues in quarterly bulletin
Ireland economists construct new business-cycle indicator
Economic letter published by Central Bank of Ireland presents an indicator to provide policy-makers with ‘real-time’ signals; index has declined in recent months as domestic demand remains weak
Irish households exhibit ‘relatively large' wealth effect from housing
Housing wealth effect particularly strong for Irish households in negative equity, central bank researchers find
Irish central bank appoints top French supervisor as deputy governor
Cyril Roux, previously second-in-command at the French prudential supervisory authority, will join the Central Bank of Ireland as deputy governor with responsibility for financial regulation
Central Bank of Ireland director says it will take ‘some time' to get out of crisis
Fiona Muldoon adds the task now is putting together a business model for Ireland that ‘expands on parts of the economy not built on buying and selling houses to each other at ever inflated prices'
Irish central bank waives €5 million penalty but faces legal action of its own
Central Bank of Ireland hands failed insurance company a reprieve ‘in public interest’; now being taken to court by family of the company’s former owner
Eurozone core ‘regain net influence’ over bond markets, finds Irish paper
Technical paper examines spillovers in the eurozone’s sovereign debt markets; finds the impact of stressed countries on the wider region has diminished
Central Bank of Ireland stresses importance of long-term bank profitability
Irish macro-financial review highlights need for banks to support the real economy with credit at sustainable rates; increases in bank profitability also necessary for long-term sustainability
Irish plan for distressed borrowers attracts criticism
Central Bank of Ireland encourages cooperation between lenders of secured and unsecured debt to keep distressed borrowers from bankruptcy; Irish League of Credit Unions denounces scheme
Central Bank of Ireland annual report sees assets drop and profits rise
Recovery in Irish economy in 2012 led to lower reliance on US dollar liquidity and continued increase in central bank profits; governor urges continued commitment from external stakeholders
Ireland chases €1bn saving with payments overhaul
Central bank launches new initiative to curb high cash and cheque use and boost electronic payments; proposals include possibility of scrapping one and two cent coins
Irish central bank puts 'embarrassing' error on new Joyce coin
Erroneous quote from James Joyce novel could make the collectors' coin even more valuable
Payment pricing preventing electronic migration in Ireland
Article in central bank’s quarterly bulletin finds Ireland could save €1 billion by switching from cheques to a more efficient payment instrument
Contribution of Irish financial sector to GDP ‘overstated’
Paper questions the statistical methodology behind claim that Irish financial sector contributes €15 billion to country’s output
Irish paper finds more spending could help government’s ‘precarious’ finances
Central Bank of Ireland research technical paper suggests country’s close sovereign-bank link means government spending to reduce mortgage arrears will have a greater effect than previously thought
Lagarde sets out case for ECB rate cut and wider use of OMT
IMF managing director says ECB has room to cut rates and a European recovery is constrained by a lack of demand; suggests OMT programme could help countries ‘regain market access'
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