it does a wide range of different circumstances, sometimes including extended family arrangements. it would be unwise to generalise, but there are many circumstances in which there is less reason to be inhibited about repossessing buy - to - let properties. where loan delinquency relates to pure investment type “ buy - to - lets ”, it is surely now past time for the banks to be dealing more proactively with the situation of overindebted buy - to - let borrowers no longer able to service the debts they assumed in order to take investment positions – now loss - making – in property. it is in the long - term interest both of the banks ( and therefore the state ) and the borrowers that the banks continue to ramp - up their capacity to engage with and process such debtors in order to determine, on the basis of actual and prospective income, what repayment they can realistically be expected to service fully, repossessing the collateral where necessary. while this may involve the banks in having to manage a portfolio of repossessed buy - to - let properties, this is not an insurmountable task and should in any event facilitate the improved functioning of the property market and getting closer to a market - clearing price by bringing to the market ( in an orderly and managed way ) many of those properties which at present are implicitly hanging over it as an excess supply. overall, systematic and effective engagement can bring predictability to hopelessly overindebted borrowers, restoring their ability and motivation to become productive members of society. bis central bankers ’ speeches with almost €100 billion of mortgage debt in the republic outstanding in the banks guaranteed by the government, the working - out of troubled mortgage debt is a matter of immense national importance. achieving the right balance between realism in what can be collected and prudence in managing the limited but adequate capital resources that have been provided to the banks by the government is vital. failure in this regard would press on the already fragile finances of the state. the new personal insolvency arrangements could underpin a good outcome here, but the final form of their precise architecture and especially the operational parameters ( how to define affordability etc. ) will be crucial. much also falls on the banks, whose role in ensuring a realistic and effective approach to loan recovery – in effect for the benefit of the state – must continue to be developed alongside the resumption of a less timorous approach to new loan approval

. while the bitcoin may have risen in value over time, storing value in bitcoin has been compared to gambling in a casino. [ viii ] these stories highlight the role that money and official currency play in our society, providing stability in value when we trade goods and services. * * * while today money is no longer linked to gold, it is used every day when we buy things, in shops, in restaurants or to buy concert tickets online. we can trust in its value, we know what we will get for 20 euro, this week and next. for the central bank of ireland, public trust is critical. a key element of our vision is be trusted by the public - a trusted organisation that is working in the interests of the public every day. [ ix ] this includes ensuring that citizens can trust in their currency and that they can trust that the bank is fulfilling its mandate for financial stability, consumer protection and prudential regulation. historically many coins had a face depicting the power of the monarch, president, or state. today the central bank of ireland will add the face of rock royalty to one of our coins. * * * the national side of all euro coins allows the countries that use the euro to also recognise the uniqueness of their own cultures and identities. for irish coins, minted by the central bank, we feature the celtic harp. the use of the harp as our national symbol very succinctly reflects the importance of music and culture to the people of ireland. however, it is not only the tail side of our euro coins where euro member states are able to depict our national identities. all eurozone countries issue their own commemorative coins that reflect a rich and diverse range of national heroes, events, and cultural icons. [ x ] across europe, even though we no longer print punts, pesos or francs, the issuance of these commemorative coins in our common currency reflects our uniqueness whilst also embodying the spirit of the european union where we are ‘ united in our diversity ’. the central bank acts as an agent for the minister for finance and public expenditure and reform in issuing all irish coin – both the circulating coins we use every day and commemorative ones. collector coins have more than just monetary value. they are issued to honour people, events and achievements that we value as part of our history, culture and heritage. [ xi ] the themes that are commemorated in ours coins are as diverse as the themes of thin lizzy ’ s