You need to understand Honohan’s key arguments and his report should be your first port of call. An understanding of the economic standing of the Irish economy and the role of the property bubble: what were the keys developments and errors in policy that contributed to the economy overheating: tax policies…etc but also the role of the banks.
It is more important you establish Honohan’s interpretation of the property crisis. …what is his views on regulatory capture? What’s missing?
You need to establish the background (before reform of the Irish financial regulation: what is prudential regulation? …how was it reformed? What are the ideas that inform this reform?
How do these ideas permeate the transformation of the role of risk in politics? ..where are decisions on risk located after the reforms and why?
What are the problems in honohan’s views? The international dimension and the Glass Steagall act…why do they undermine his position and what underpins this reform?
