Draghi: Irish banking market a 'quasi-monopoly'

Draghi: Irish banking market a 'quasi-monopoly'
European Central Bank President Mario Draghi. Pic: Getty

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

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”.

Draghi faced a number of questions about how...

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