Honohan: Ireland can’t expect sympathy

Ireland cannot expect too much sympathy from other countries in its financial crisis, the governor of the Central Bank, Patrick Honohan, said as he called for sensitivity to be shown to those whose households have fallen in to debt.

Since the demise of the Celtic Tiger, he said average living standards fell by 17% and aggregate wealth was down an estimated 59%.

However, he was confident the challenges of Ireland’s present indebtedness would be overcome.