Professor Stephany Griffith-Jones gave this year’s annual Dónal Nevin lecture on the future of banking in the EU and in Ireland.
The lecture focused on the role a public development bank can play in boosting growth and job creation. Professor Griffith-Jones cited the success of the Kreditanstalt für Wiederaufbau (KfW) in Germany and highlighted how development banks work counter-cyclically, ramping up lending as the private sector withdraws.
Welcoming the announcement of the Strategic Banking Corporation of Ireland (SBCI), Professor Griffith-Jones pointed out that the SBCI must be established quickly and lend at sufficient scale in order a positive impact on economy.
Professor Griffith-Jones concluded the lecture by saying that, in conjunction with established banks, a public development bank could provide the vision and long-term finance that would help sustain investment, innovation and job creation when private lending on its own is not sufficient.
An interview with Professor Stephany Griffith-Jones in film in advance of the lecture can be found below:
The annual Dónal Lecture was held in the Institute of Banking on the 28th May 2014. Slides here.