[i] I would like to thank all the colleagues in the Central Bank of Ireland who contributed to the preparation of my remarks. [ii] Keane, J. 2008. Václav Havel: a political tragedy in six acts. Hachette UK, pp. 333. [iii] See remarks from my colleague, Sharon Donnery, Risks and Resilience in Uncertain Times.
The monetary programming exercise ought to have produced the desired results. The only snag - a critical one indeed - was the issue of independence of the Bank with regard to interest rate policy decisions. Notwithstanding this snag, the first operational framework for indirect monetary control was at least set. In 1996 the monetary programming was given a different twist.