‘I think we’re not doing enough’
The European Commission has confirmed it is investigating whether Irish banks should have to release more data about how they use the euro.
In its latest quarterly report, the European Commission said it is looking into the “potential impact” of the banking crisis on Ireland.
It also highlighted how Ireland has failed to implement a number of EU legislation to help people cope with the financial crisis.
It said the government should not have to impose financial penalties if banks fail to comply with EU regulations.
The Commission said Ireland is the second-worst-performing euro area economy in terms of the number of people who have lost jobs and the number who have left the country.
In a letter to the Irish government, the Commission said the country has not adopted a national strategy to combat the crisis.
The Government has promised to improve the country’s financial position but the Commission has warned that Ireland could be worse off.
A new Irish bank is expected to be launched by the end of the year, but the Government has not revealed any plans for how it will be funded.
The Irish Government has refused to disclose the cost of the new bank and it has also refused to say how much the new banking system will cost.