The year of the great test: 2009
There is a great urgency for decisive action on the key fronts of the Exchequer funding crisis (of which we write on Page 4), and the re-funding of the domestic banking system (see below). The task of restoring stability to both will take all of 2009, it is likely, at least.
Endgame for the Exchequer
The bond markets have dictated the endgame for the Exchequer and Ireland’s future as a successful and independent economy will depend on how the country responds.
Eight ways to restore confidence in securitisation markets
The Global Joint Initiative to Restore Confidence in the Securitisation Markets representing the main industry bodies have published eight key points as a roadmap to restore confidence in securitisation markets.
ABS market: regulatory action must ensure Europe’s competitiveness
The regulatory response to the shortcomings of the current model must be targeted to encourage financial services activity in Ireland and Europe. Ireland must be a central participant in shaping this new regulatory landscape to ensure the further development of the financial services industry, writes Gerard Scully.
The credit outlook for 2009
A continuing constriction in bank credit availability will induce governments towards further tinkering with the regulatory regime and perhaps some form of separation between banks and their bad assets. Certainly it is very hard to postulate any recovery in bank lending until such measures are taken, writes Ciaran Kane.
