Prof Patrick Honohan said that the financial market “is always wrong”. “We saw how wrong it was in the years before the crisis of 2007. It was over-optimistic. But then after that, and progressively in 2008, 2009 and 2010 it became too pessimistic.”

The Government is set on Tuesday to consider the outline of planned laws to make senior bankers more accountability individually for failings or wrong(...)