Oireachtas Joint and Select Committees
Tuesday, 20 December 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Sector in Ireland: Central Bank of Ireland
11:00 am
Professor Philip Lane:
I do not want to specify what is happening in Italy at the moment. In general, if we think about what is going on now, the Irish banks are basically funded by local deposits. One of the usual triggers of contagion is through the interbank market. Back in 2007 and 2008, this was huge in the context of how the Irish crisis came about.
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