Part of the explanation for the catastrophic misjudgment of the blanket bank debt guarantee was that the then government did not know what it was letting itself – and by extension the taxpayer – in for. Photograph: Eric Luke

Prominent among the many imponderables of the Irish banking crisis is what would have happened if the banks had properly disclosed the extent of their(...)

The loophole that allowed Irish banks not to disclose their property losses during the crash has finally been closed.Under new international accountin(...)

European Central Bank president Mario Draghi (above) and his predecessor, Jean Claude Trichet, were, in 2006, advisers to the International Accounting Standards Board, the architects behind the accounting rules that determine how European banks account for non-performing loans. Photographer: Ralph Orlowski/Bloomberg

The International Monetary Fund’s Global Financial Stability (...)

Patrick Honohan: “Although accounting practices are evolving, existing methods typically do not take full account of expected loan losses.” Photograph: Dave Meehan

The extent of the Irish bank’s losses and the question as to whether they are still concealing them continues to crop up and is unlikely to go away in(...)

Pension trustees have seen their deficits widen in recent years, mainly owing to circumstances outside their control. Apart from retirees living longer, a low interest rate environment has the effect of increasing the present value of future liabilities. Falling stock markets have not helped either.

The discord between Ryanair and Aer Lingus is the latest in a series of problems facing large companies to focus shareholders on the growing pension d(...)