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

By:

Honohan, Patrick [author]

Material type: Text

TextSeries: Comparative economic studies ; Volume 52, number 2Hampshire: Palgrave Macmillan, 2010Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

08887233

Subject(s):

Eurozone -- Membership -- Banking crisis -- Eurozone, Ireland

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	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

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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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