It’s not all good news for the economy and exporters as failure rates for businesses still high

Despite the fall in insolvencies for a third consecutive year in 2015, the failure rate of Irish businesses is still three times higher than before the crisis in 2007.

Adding to the worrying picture is the level of non-performing loans at Irish banks, which stands at approximately 23% of total outstanding loans.

Seven years since the onset of the crisis, Ireland still has among the highest rates of non-performing loans in Europe.