Honohan: Radio call was to quell alarm in country

Central Bank governor Patrick Honohan made his infamous RTÉ call confirming a bailout to quell “alarm”, despite claims it was to “undermine” the Government’s position and help a de facto ECB “financial coup d-état”.

At his third banking inquiry meeting yesterday, he outlined the growing pressure to enter a bailout in the seven months before the November 18, 2010, radio interview. Mr Honohan said the call to Morning Ireland was in the country’s interest.

He said the day before €900m in deposits left Irish banks, and there were concerns of a run on the institutions.