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Resolving Ireland’s Banking Crisis

  • Honohan, Patrick

    (Trinity College Dublin and CEPR)

The Irish banking system has been, in effect, on a life-support system since September 2008. Complacency resulted in the banks fuelling the late stage of an obvious construction bubble with massive foreign borrowing, leaving them exposed to solvency and liquidity risks which in past times would have been inconceivable. The Government’s steps to put the system back on a sound basis must have regard both to protecting taxpayers’ interests and to ensuring that credit flows to the economy are not hampered by inadequate capital or liquidity.

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File URL: http://www.esr.ie/Vol40_2/Vol-40-2-Honohan.pdf
File Function: First version, 2009
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Article provided by Economic and Social Studies in its journal Economic and Social Review.

Volume (Year): 40 (2009)
Issue (Month): 2 ()
Pages: 207–231

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Handle: RePEc:eso:journl:v:40:y:2009:i:2:p:207-231
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  1. Alan Ahearne & Naoki Shinada, 2005. "Zombie firms and economic stagnation in Japan," International Economics and Economic Policy, Springer, vol. 2(4), pages 363-381, December.
  2. Patrick Honohan, 1997. "Banking system failures in developing and transition countries: Diagnosis and predictions," BIS Working Papers 39, Bank for International Settlements.
  3. FitzGerald, John, 2005. "The Irish Housing Stock: Growth in Number of Vacant Dwellings," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), vol. 2005(1-Spring), pages 1-22.
  4. Honohan, Patrick & Klingebiel, Daniela, 2003. "The fiscal cost implications of an accommodating approach to banking crises," Journal of Banking & Finance, Elsevier, vol. 27(8), pages 1539-1560, August.
  5. E. Paul Durrenberger, 2005. "Labour," Chapters, in: A Handbook of Economic Anthropology, chapter 8 Edward Elgar.
  6. Morgan Kelly, 2007. "On the Likely Extent of Falls in Irish House Prices," Working Papers 200701, School of Economics, University College Dublin.
  7. Patrick Honohan & Anthony Leddin, 2005. "Ireland in EMU: more shocks, less insulation?," The Institute for International Integration Studies Discussion Paper Series iiisdp94, IIIS.
  8. David Duffy & John FitzGerald & Ide Kearney, 2005. "Rising House Prices in an Open Labour Market," Papers WP166, Economic and Social Research Institute (ESRI).
  9. International Monetary Fund, 2006. "Ireland; Financial System Stability Assessment Update," IMF Staff Country Reports 06/292, International Monetary Fund.
  10. Gary H. Stern & Ron J. Feldman, 2003. "Too big to fail: the hazards of bank bailouts," The Region, Federal Reserve Bank of Minneapolis, issue Dec, pages 60-65.
  11. Caprio, Gerard & Honohan, Patrick, 2001. "Finance for Growth: Policy Choices in a Volatile World," MPRA Paper 9929, University Library of Munich, Germany.
  12. World Bank, 2001. "Finance for Growth : Policy Choices in a Volatile World," World Bank Publications, The World Bank, number 13895, December.
  13. Fabian Valencia & Luc Laeven, 2008. "Systemic Banking Crises; A New Database," IMF Working Papers 08/224, International Monetary Fund.
  14. George A. Akerlof & Paul M. Romer, 1993. "Looting: The Economic Underworld of Bankruptcy for Profit," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 24(2), pages 1-74.
  15. Maurice J. Roche, 1999. "Irish House Prices - Will the Roof Cave In?," The Economic and Social Review, Economic and Social Studies, vol. 30(4), pages 343-362.
  16. repec:ucn:oapubs:10197/908 is not listed on IDEAS
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