Tom McDonnell: Bernard Delbecque proposes using the EFSF as a lender of last resort here. The ECB is the other plausible candidate. The lack of a lender of last resort for the Euro zone has been one of the most significant design flaws in the make-up of monetary union and has contributed greatly to the explosion in bond spreads in the last two years.
Tom McDonnell is senior economist at the NERI and is responsible for among other things, NERI's analysis of the Republic of Ireland economy including risks, trends and forecasts. He specialises in economic growth theory, the economics of innovation, the Irish and European economies, and fiscal policy. He previously worked as an economist at TASC and before that was a lecturer in economics at NUI Galway and at DCU. He has also taught at Maynooth University.
Tom obtained his PhD in economics from NUI Galway.