A Tale of Two Tails – Risks and Resilience in Uncertain Times

Lorcan Mullally8th March 20191min
Deputy Governor Donnery addresses how domestic macro-financial policy needs to promote sufficient resilience to withstand the risks facing the Irish economy and financial system.


The Irish economy and financial system face a wide range of possible future paths. However, if the worst case scenario of a hard Brexit does not emerge, the economy is expanding strongly and as it moves towards full capacity there is a risk that the continued strong expansion could give rise to overheating pressures. This range of possibilities poses challenges for policy-makers. In her keynote address, Deputy Governor Donnery addresses how domestic macro-financial policy needs to promote sufficient resilience to withstand the implications of these different outcomes.

About the Speaker:

Sharon Donnery was appointed to the position of Deputy Governor, Central Banking in the Central Bank of Ireland in 2016. She is an ex officio member of the Central Bank Commission and the Governor’s Alternate on the Governing Council of the European Central Bank (ECB). Ms Donnery also represents the Central Bank of Ireland at the European Systemic Risk Board (ESRB) and was appointed Chair of the ECB Budget Committee (BuCom) in December 2016. Ms Donnery joined the Central Bank in 1996 as an Economist in the Monetary Policy Division. She holds a BA in Economics and Politics and an MA in Economics from University College Dublin.