Of course, the 10  failures in banking supervision in Ireland have been comprehensively examined and well documented, particularly in the (2010) Honohan Report.xxi Some of the conclusions of the report showed that the then ‘Financial Regulator’ relied “excessively on a regulatory philosophy emphasising process over outcomes,” that “a greater degree of intrusiveness and assertiveness” was required on the part of the regulator and there was a need for “additional staff resources and training.”xxii The crisis also exposed the weaknesses in the framework for resolution – as I just discussed, but also the fundamental mismatch between cross-border banking and domestic crisis management, in addition to the lack of adequate, and harmonised powers authorities had to deal with crises.
So much has already been written about the difficulties ascribed to the Year 2000 challenge that the subject is becoming almost commonplace in most conversational circles. By now, almost everyone’s familiar with the basic issue -- specifically, that information generated on computer may be miscalculated and conveyed to others, or possibly programs may be terminated because they cannot recognize dates shown as 00.