The European Central Bank has called on the Irish government to step up its banking reforms. Its governor Mario Draghi urged "further action".
Mr Draghi’s comments came as new Central Bank figures showed that while the pace of growth in mortgage arrears is slowing, about 23,500 mortgages have not been paid for two years or more.
Mr Draghi praised Ireland for its economic progress but said the banking sector was a key concern. “The Irish Government has undertaken very, very significant progress, very significant results on several fronts... but further action is needed, especially on the banking side, in the financial sector", Mr Draghi said.
The remarks place renewed pressure on the government to focus on its banking policy. They follow comments made in this newspaper by the head of the International Monetary Fund, Christine Lagarde, raising concerns about a “relapse” in the global economy.
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