Although overnight and short-term bank deposits nowadays make up the lion’s share – more than 90 %, in fact – of money, it is still the case that the majority of purchases in Germany are settled in cash. Cash is used in 80 % of transactions, though that figure is dwindling somewhat.
In summary, after a period of very strong economic growth, the authorities in Ireland are now faced with effecting a deceleration of demand to the feasible growth rate in the context of monetary union where monetary conditions in the round are relatively easy.