In this context, building resilience, whether in banks, at the individual, household, corporate, or national level is key. All stakeholders have their part to play in this process. We have seen progress, for example, in household debt statistics – Irish household debt as a proportion of disposable income fell by 49.8 percentage points between Q1 2014 and Q1 2018.
BIS central bankers’ speeches  5  Given the large number of firms still under pressure, implementation of an effective and speedy but surgical approach to corporate restructuring could have a big impact. By reinvigorating the Irish business sector, it would ultimately help boost economy-wide employment. Requiring unusual and scarce skills and judgment, this is a task which urgently deserves heightened attention.