Honohan: bailout funds unable to recapitalise a 'missed opportunity'

Honohan: bailout funds unable to recapitalise a 'missed opportunity'

The central bank governor has described not allowing temporary or permanent bailout funds to directly recapitalise banks, as a "missed opportunity".

Speaking in London this evening, Patrick Honohan, said that injections from the European funding mechanisms to governments inflated their debt, which in turn led to concerns among rating agencies.

Mr. Honohan said the €17-billion injected into Ireland last year added some 13% of GNP to Ireland's debt.

He also highlighted the need for a European-level resolution agency to cover bondholders' claims in bank resolutions among members states.


More in this Section

Put online safety and digital literacy on school curriculum, say TDsPut online safety and digital literacy on school curriculum, say TDs

Herbal cannabis worth €20k seized in DublinHerbal cannabis worth €20k seized in Dublin

9,335 remain homeless but numbers continue to fall9,335 remain homeless but numbers continue to fall

Five more coronavirus deaths and 38 more cases confirmed in IrelandFive more coronavirus deaths and 38 more cases confirmed in Ireland


Lifestyle

Leaders in the fields of mindfulness and meditation are offering free online support to help us de-stress and take control, says Margaret JenningsBreathe easy: Free online guidance on how to calm your mind

Another week, another fiendishly fun test of your arts and showbiz knowledge from Irish Examiner Arts Editor Des O'Driscoll.Scene & Heard: Fun culture quiz

More From The Irish Examiner