SECTION 1 “The regulatory reforms to the financial system post-2008 were inadequate. We need more radical reforms such as bringing an end to government-backed financial systems or limiting fractional-reserve banking.” Critically discuss, focusing on at least one legal/regulatory reform in Ireland post-2008.
You must write a 500 word (max – no 10% leeway) response to each of the following statements. The assignment should be 2,000 words total (not including the questions themselves). See the guidelines below about footnotes and references.
1. “The fiat money system is inherently risky and we must put in place sufficient legal safeguards to protect against its risks”. Is this true? Critically discuss.
2. “Modern banks and financial institutions are doing God’s work. We should not put too many legal encumbrances in their way”. Critically discuss.
3. “De-regulation was the major cause of the 2008 financial crisis in the US”. Critically discuss.
4. “The European Central Bank effectively responded to the financial crisis of 2008”. Critically discuss.E