No central banker has come out and said it yet, but the reality is that most of them are pretty much out of ideas as to what to do next to revive their struggling economies. Apart from in the US where the economy is performing reasonably well, all conventional and non-conventional measures tried by central … Continue reading Does Germany hold the key to a European recovery? →

Eight years after the financial crisis began, the results of stress tests on European banks released by the European Banking Authority (EBA) recently showed that the two Irish banks included in the tests – AIB and Bank of Ireland – compared very poorly with their peers in terms of their ability to withstand another major economic … Continue reading Reality Check for Irish Banks →

In the past, the management of monetary policy by central banks was quite simple. When economic growth slowed they reduced interest rates to discourage saving and encourage borrowing, thereby increasing spending and getting economies moving again. When growth threatened to get too strong and inflation risked getting out of control, they increased rates again to … Continue reading Could Helicopter Money Take Off? →

Mr. Chairman, Members of the National Executive of CUMA, ladies and gentlemen. Thank you for inviting me to address your Spring Conference. This morning I would like to focus on the ongoing restructuring of your sector and the importance of taking the steps necessary to reap benefits from mergers that are completed.  I will also … Continue reading Address by Registrar of Credit Unions to CUMA Spring 2016 →

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