Seen in historical perspective, this deceleration since 2008 has been substantially stronger than in previous recessions. Of particular concern is the growth rate of the machinery and equipment stock, the most productive component, which has slowed the most.
This scepticism means that the banks have to hold more capital than would otherwise be needed, in order to convince international lenders of their solidity under all circumstances. This is being done as part of the EU-IMF Programme designed to restore market confidence to Ireland, and in particular to its Government finances and to its banks.