There will be a conference on this topic next Monday, co-organised by CEPR, Central Bank of Ireland and IMF.
More details about the conference available here. There will be a live webcast link on the day.
There will be a conference on this topic next Monday, co-organised by CEPR, Central Bank of Ireland and IMF.
More details about the conference available here. There will be a live webcast link on the day.
3 replies on “Ireland—Lessons from Its Recovery from the Bank-Sovereign Loop”
Is the bank-sovereign loop unplugged ?
Being ‘ in the loop’ has been very rewarding for bankers. They certainly don’t want to break the loop; and bankers get what they want, all the time.
The reason is simple, bankers are the custodians of the wealth of the rich and powerful. When the custodians of wealth lose that wealth, or are in danger of losing it, the protection of the loop is invoked. When the custodians make profits, they keep the profits. Ingenious.
During the crisis, the EZ decisions forced banking back behind national borders, thereby welding the loop in place.
The loop is even far tighter now that it was on Sept 29th, 2008.
@ JR
I’m not sure it’s a loop. It may be a noose.