Mark Carney on EU membership

Mark Carney delivered an important speech on Brexit on 21 October. The speech was limited to looking at the impact of the UK’s EU membership on the Bank of England’s objectives, namely price and financial stability. The speech is thoughtful and measured, if not very insightful. Clearly he sees many benefits in remaining in the EU. In particular he… Continue reading Mark Carney on EU membership

UK retail banking is not competitive enough

This morning the Competition and Markets Authority (CMA) published provisional findings on its retail banking investigation. The CMA identifies competition problems in both the personal current account and SME banking markets. It suggests that high levels of customer inertia and low switching rates mean that banks aren’t put under enough ‘competitive pressure’ to bring down… Continue reading UK retail banking is not competitive enough

What Caused the Irish Banking Crisis?

Abstract:      Purpose – This paper explores the Irish banking crisis. It attempts to explain how various factors contributed to a collapse in asset prices, an economic recession and the near failure of the banking system. The paper will seek to document the dangers of pro-cyclical monetary and government policies, particularly in an environment of benign financial… Continue reading What Caused the Irish Banking Crisis?