Ireland’s financial system suffered due to severe, underlying structural weaknesses. This involves factors such as, defiant bank supervision mixed with ineffective and slow regulatory responses. However, lessons can be learnt as well as protections put in place to prevent a future crisis from occurring.
Key learning objectives:
Discuss the different methods in preventing a future financial crisis.
Describe the responses made at the time and interpret if they were successful or not.
Evaluate the stance taken by the European Central Bank.