Friday February 21, 2020

Draghi: Irish banking market a 'quasi-monopoly'

ECB chief faces questions on bank's actions during financial crisis in first appearance before Oireachtas committee

8th November, 2018
European Central Bank President Mario Draghi. Pic: Getty

European Central Bank president Mario Draghi faced questions on the bank’s stance on Ireland during the financial crisis when he appeared at the Oireachtas Committee on Finance, Public Expenditure and Reform and Taoiseach on Thursday afternoon.

He also said there was a need for more competition in the Irish banking market to reduce borrowing rates for households and businesses, describing the current situation as “a quasi-monopoly”.

The ECB chief said the...

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