This is a complex formula, but the important point to understand is that the amount of currency we need to print is determined by the replacement requirement and the economic growth requirement. As much as the amount of currency to be printed is formula driven in the first instance, the Reserve Bank cannot just “issue” currency.
The need for Ireland to engage with partners in modelling the future macroeconomic policy for Europe and mapping out Ireland’s position within that landscape is by now well understood. Demographic exceptionalism One legacy of the Famine was Ireland’s persistent exceptionalism in demographic statistics – a topic about which I inherited my father’s fascination.