Banking
Exclusive: Expanding Central Bank’s powers ‘risks a new financial crash’
Major financial services firms including BlackRock and State Street have called for the regulator to have its pre-crash role in supporting the sector restored
Ireland risks another devastating financial crash if the Central Bank’s role in promoting the financial services sector is restored, its former governor has said in a stark warning.
Patrick Honohan, who assumed the regulator’s top job as the great recession hit, told the Business Post that any restoration of the Central Bank’s dual mandate should “not be tolerated”, and risked creating economic devastation once again.
“I don’t know whether to laugh or to cry. It’s ...
