Banking sector ‘remains fragile’

THE banking sector is still fragile and there are still many reasons for concern about the economy.

This is according to ratings agency, Moody’s which said the banking sector will remain weak until NAMA had finished its transfer of property assets and the sector had been recapitalised.

Reacting to figures published last week by the Central Statistics Office (CSO) which showed Ireland’s GDP rose by 2.7% quarter-on-quarter, Moody’s said Ireland’s return to quarter-on-quarter positive GDP growth is “no four-leafed clover”.