The crisis has highlighted the urgency of structural reforms in the labour and product markets to limit the crisis’ negative impact on output and employment.
In the other direction, 4/5  BIS central bankers' speeches  upside shocks may provide a new type of challenge in addressing potential overheating risks in the economy. The responsibility of policymakers is to maintain a vigilant and agile stance in order to ensure that Ireland can cope with either type of shock. 1 The acronym O-SII stands for Other Systemically Important Institutions.