Irish Central Bank declared its impotence before launch of the euro; Why Spain’s biggest banks survived huge housing boom
Sep 7th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Irish Central Bank publicly declared its impotence before launch of the euro and futilely pleaded for restraint from the banking sector as fiscal policy fuelled the boom. In contrast, Spain's biggest banks survived a huge housing boom because the Spanish central bank insisted onadditional provisioning during the good years and other risk controls.