On 29 January the Central Bank of Ireland published the Quarterly Bulletin 1 2014. This Bulletin notes an improvement in the market's assessment of Ireland's credit worthiness, helping the sovereign and domestic banks to regain access to market funding at, increasingly more favourable rates. It notes that further progress in terms of policy implementation across a range of areas is needed before Ireland can be considered to have recovered from the crisis. The main challenges remain the need for further fiscal consolidation, restoring banking soundness and sustaining the rebound in employment growth through improvements and competitiveness. In the banking sector, while liquidity and funding conditions have improved, the key issues centre on the need for further progress in dealing with the resolution of impaired loans so as to put the system back on a sustained sound footing to be in a position to support recovery.