Global financial crisis no real danger to Ireland, says Central Bank

THE current global financial turmoil poses no real threat to the Irish banking sector, but risks to financial stability have increased, Central Bank governor John Hurley said yesterday.

However, he warned that a serious slow down in the US would undermine global growth and be bad for Ireland.

Speaking at the launch of the bank’s Financial Stability Report 2007 Mr Hurley said that “in particular the trade and investment links between Ireland and the US leave the Irish economy vulnerable to any significant downturn in growth in the US”.