Author: Philip Lane

The WSJ carries an interesting report on how multi-country banking groups are using LTRO to ring fence affiliates in troubled economies (including Ireland), in order to limit the exposure of parent banks.

Some of the Central Bank’s main contributors to Friday’s SME conference report on how debt overhang is constraining bank lending to SMEs in this VOX article.

Here is the European Commission’s report.

A reader recommends this briefing paper.

This blog has recurrently featured the role of fiscal devaluations inside a currency union –  a good summary of the argument is here.  (HT Desmond Brennan).  There are traces of this in the Irish case (the increase in VAT and the reduction in employer PRSI for low-paid workers) but more could be done.