Fears over lost decade

IRELAND could face a "lost decade" similar to that suffered by Japan in the 1990s if banks do not learn how to lend to "new, viable enterprises", the Central Bank's chief economist has warned.

A European banking union that "breaks the link" between banks and governments was the best way to get credit flowing into the economy, preventing a "lost decade" like the one that followed Japan's property bust, Lars Frisell (above) said.