The recent strong growth performance has been underpinned by strong consumer demand which grew at annual rates of 6,5 per cent in 2004 and 6,9 per cent in 2005. Sustaining growth at higher levels will require significant structural reforms and an increase in investment relative to consumption  2  BIS Review 60/2006  as a contributor to the growth process.
The Bank is currently also playing its part in engaging with external partners in seeking to limit and smooth the impact on Irish balance sheets of the indebtedness accumulated as a result of the overly expansive decision to socialise banking losses, to help accelerate recovery of employment on a sustainable basis. 2  BIS central bankers’ speeches