Irish central bank gives a much more pessimistic view of the Irish economy. An earlier prediction by the Central Bank predicted a 4.7% decline in 2009. John Hurley stated this it now looks to be much closer to 6%. Ireland's heavy reliance on the construction sector and the banking sector have given Ireland a much worse recession than any other country in Western Europe. From anecdotal evidence from builders and ... Read More

Central Bank Governor John Hurley said that the Allied Irish Banks and the Bank of Ireland are a crucial part of the state of the country’s finances which is why they cannot be allowed to fail.   At the Joint Oireachtas Committee on Finance and the Public Service, Hurley sent his unfavorable forecasts of the economy due to anxiety and fear in the financial arena as well as unsuccessful regulatory measures. He stated that RI is on its way to a second year ... Read More