US president Donald Trump and China’s president Xi Jinping. The IMF said the self-inflicted wounds of the US and China’s trade war had created a ‘precarious’ economic situation. Photograph: Nicolas Asfouri/AFP via Getty Images

Global growth is set to fall this year to its slowest rate since the financial crisis, the IMF said on Tuesday, as it warned that the self-inflicted w(...)

‘After 2008, the necessary adjustment was concentrated into four years. Recovery is faster when tough medicine is taken quickly.’ Photograph: Getty Images

The financial crisis of the last decade brought misery to many and imposed major costs on nearly everyone in Ireland. Fortunately, the economy has now(...)

The shortfall for the euro zone’s 35 biggest and most complex banking groups stood at €125 billion last year. Photograph: Francois Lenoir/Reuters

European political leaders need another financial crisis to frighten them into completing a banking union, a senior EU official said on Monday. He sai(...)

Mario Draghi: his announcement in 2012 that the European Central Bank was ready to do whatever it took to preserve the euro was a crucial change of stance. Photograph: Krisztian Bocsi/Bloomberg

It was not only Ireland that was unready for the financial crisis that began in 2008: the European Union lacked the institutions to head off the crisi(...)

With the advent of the financial crisis in 2008, the Single Market in banking services effectively broke up.  Photograph: REUTERS/Kai Pfaffenbach

Before the economic crisis there was extensive competition to provide banking services across Europe. Many banks had expanded their activities across (...)