Friday 18 August 2017

Eyes of Europe on our banks because the job is still far from done

Mario Draghi, president of the European Central Bank (ECB)
Mario Draghi, president of the European Central Bank (ECB)
Stephen Kinsella

Stephen Kinsella

Central bankers speak obliquely, saying a lot to a few people, and very little to the majority of those listening. Interpreting central banker-speak is actually fairly hard work. Those who snap to judge exactly what one central banker or another meant too quickly tend to be wrong in their assessments.

It is rare, then, for someone like the president of the ECB, Mario Draghi, to speak so plainly as he did on the subject of Ireland's banks.

Mr Draghi has said Ireland's banks have "outstanding issues" in a letter written to Fianna Fail's Michael McGrath, and that he had "some concern".

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