Anglo rescue costly but manageable, says Honohan
Speaking over the course of the weekend in Hong Kong, at the start of an Asian lecture tour, Professor Honohan also reiterated that the injection of emergency cash into Anglo will bump Ireland’s 2010 budget deficit up to around 17% of GDP, about 6% higher than initial targets – a point he previously made at the recent publication of the Central Bank’s annual report for 2009.
Anglo’s bailout charge rose by nearly €1 billion past the initial €22bn estimate, last week, with Government saying it was still unclear as to how much would be needed overall to steady the nationalised bank.
