All I want to do on this occasion is to acknowledge that as a result of the impact of the global financial crisis and the follow on euro zone crisis, central banking around the world is changing in dramatic ways.
It seems that both the Bank of England (with whom Jacobsson stayed in touch during the Banking Commission’s deliberations) and the Irish banks, especially the Bank of Ireland, had misgivings about extending the wider powers of central banking to the Irish case, given the close ties to London.