Ireland's banks are 'risk averse'

The European Central Bank's latest moves to try and get the banks lending out more of their cash are being watched closely in Ireland.

It is one of several countries in the Euro area where the big enemy is now deflation. That's when prices are falling in the face of low demand and waning economic confidence and spending power.

The state may be back from the brink after its bailout, but its not yet business as usual, as the BBC's Europe business correspondent Nigel Cassidy reports.