In other words, a myriad of decisions both large and small, including decisions not to act (inaction bias), all underpinned by implicit and explicit assumptions, led to the global financial crisis and how catastrophic its effects were in Ireland.
Also, as revenues from most infrastructure projects are denominated in local currencies, local currency infrastructure bonds will be able to mitigate the risk of currency mismatch. Central Banks' Initiatives Let me now explain some measures taken by central banks in the region.