A range of suggestions aimed at solving the overvaluation problem have been provided by a number of commentators, such as:  5  Sometimes people use overvalued to mean a value of the exchange rate higher than indicated by economic fundamentals.
Members of the Irish Economic Association are collectively well-placed to contribute to this debate and for this reason I would like to take the limited time at my disposal this evening to touch on three dimensions of the adjustment which might be thought to moving slowly: (i) the property market; (ii) the banks and (iii) the fiscal position.