Ireland has a limited safety margin for maintaining debt sustainability and would benefit from a deal to reduce the cost of bailing out its banks, said Stefan Gerlach, a deputy governor with the central bank.

Running budget surpluses is the most effective way open to Ireland to reduce the economy’s debt burden over the longer term, Deputy Governor of the Irish Central Bank Stefan Gerlach believes.

The Central Bank of Ireland has today announced the appointment of Stefan Gerlach as deputy governor.