John Hurley: Financial stability and recent market developments in Ireland Opening statement by Mr John Hurley, Governor of the Central Bank & Financial Services Authority of Ireland, to the Joint Oireachtas Committee on Finance and the Public Service, Dublin, 21 January 2009. *  *  *  Good morning Chairman and members of the Joint Committee.
They found that entering or leaving a currency union had large effects on trade flows; indeed, they estimated that a pair of countries that begins to use a common currency should see a doubling in bilateral trade.