TROUBLE IN THE US, talks of “contagion”, and news stories about the strength of Europe’s banking system may be giving some people a bad case of déjà vu this week.

Heavy uncertainty has gripped the banking sector ever since the US’s 16th largest lender, Silicon Valley Bank, said it needed to raise money to stay afloat.

While the current uncertainty facing the global banking sector may carry unwelcome hallmarks of the storm that precipitated the crash in 2008, economists are in agreement that we are in a different, but still concerning, position today. 

Trinity College Dublin Professor of Finance Brian Lucey is pretty confident that what we are seeing is independent banking failures, that Ireland’s banking system is not facing major risks, and that overall, what’s going on isn’t that mysterious. 

However,  Dr Lucia Morales, an academic innovator and researcher in the School of Accounting and Finance at Technological University Dublin, has a different outlook. She thinks that we have good reasons to be “quite worried” in Ireland. 

So, today we want to know… Are you worried about a global banking crisis?

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