During this time, it was necessary to take Anglo Irish Bank into public ownership to protect the stability of the wider financial system. Most recently, the authorities have addressed banks’ non-performing assets through the decision to establish the National Asset Management Agency (NAMA) and have decided to put in place a new regulatory system.
The NSFE document identifies certain simple messages I mentioned earlier in my speech such as why save; why invest; why insure; why save with banks; why borrow within limits; why repay loans in time; why borrow for income generating purposes, what is interest and how moneylenders charge very high interest rates, etc.