Road clear for innvations The 2014 PIN Agreement has provided an excellent stimulus by explicitly promoting innovation. It builds on the rapid technological innovations and the quickly changing consumer preferences and market conditions. To my mind, the Dutch Agreement is an example that the Netherlands can convey to the single European payments market. This will not be done overnight.
While sovereign bond market yields remain compressed at present, the senior unsecured debt issued by Irish banks continues to be more expensive compared with euro area and European peers. This is important in the context of the requirement under the new resolution framework for banks to raise debt that can be ‘bailed in’ (i.e. converted to equity) in the event of failure.