We asked him what lessons we might take from the research on the depression of the 1930s in the current crisis, and if there had been any new developments in the field.
Some 71 of the 73 executive and non-executive directors who were in place at the time of the guarantee have now or will shortly depart the system. But the work of cultural change is by no means complete – indeed it still has a long way to go – and must necessarily be driven by the new boards of the Irish banks.