Indeed, this is so problematic that an entirely new organisation, the Irish Banking Culture Board (IBCB), has been set up with one overriding mission: “to make banking in Ireland trustworthy again.2” While not unique to Ireland, it is remarkable that this is necessary.
While we in Trinidad and Tobago have many more options than our CARICOM neighbours, given the uncertainties surrounding our natural resource endowments and the more difficult global economic environment, we need to undergo considerable structural transformation, if we are to maintain or increase the relatively high living standards which we now enjoy.