How big a difference that will ultimately make we cannot know for sure, given the apparent increased internal dynamism of much of the emerging world, and given that we do not know what policy responses those countries may make. But the bigger question is the extent to which a range of countries also experience the same shock as the US.
The ECB obviously doesn’t set market rates, the rates that banks charge to the likes of me and our viewers tonight, but you do monitor the rates that are charged. Your reporting has shown that Irish banks are consistently charging much higher rates than the eurozone average. Why are they charging so much and what can you do about it?