Matthew Elderfield: The regulatory agenda for the funds industry Address by Mr Matthew Elderfield, Deputy Governor of the Central Bank of Ireland, to the Irish Funds Industry Association, Dublin, 12 September 2012. *  *  *  Thank you very much, IFIA, for the invitation to speak at this year’s conference.
The apparent aim of this proposal was to lever out the debt ceiling, but ultimately it amounts to solving debt problems by means of money creation. It now seems that this suggestion is no longer up for discussion, but I am still amazed to see onto what strange paths and byways unbridled pragmatism can lead when applied to crisis management.