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Euro membership and bank stability : friends or foes? ; lessons from Ireland created by Patrick Honohan

By: Material type: TextTextSeries: Comparative economic studies ; Volume 52, number 2Hampshire: Palgrave Macmillan, 2010Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 08887233
Subject(s): LOC classification:
  • HB90 COM
Abstract: Hit by loan-losses from a bursting property bubble, the Irish banks were brought to near-collapse, contributing to one of the worst economic downturns of the global crisis. The sharp fall in nominal and real interest rates and the removal of exchange risk from foreign borrowing after euro membership played a part in these events. At the same time, several other countries have got into similar trouble, both recently and in decades gone by, so there is no guarantee that staying out of the eurozone would have prevented something comparable from happening. And the euro provided an anchor as the crisis broke.
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Holdings
Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HB90 COM (Browse shelf(Opens below)) Vol. 52, no. 2 (pages 249-272) SP4275 Not for loan For in house use

Hit by loan-losses from a bursting property bubble, the Irish banks were brought to near-collapse, contributing to one of the worst economic downturns of the global crisis. The sharp fall in nominal and real interest rates and the removal of exchange risk from foreign borrowing after euro membership played a part in these events. At the same time, several other countries have got into similar trouble, both recently and in decades gone by, so there is no guarantee that staying out of the eurozone would have prevented something comparable from happening. And the euro provided an anchor as the crisis broke.

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