Monday February 17, 2020

Michael Brennan: The fine line between influence and interference

There is an unseen hand of political pressure behind Central Bank governor Philip Lane’s moves

Michael Brennan

Political Editor

27th November, 2016
Michael Noonan rejected Stephen Donnelly’s proposal to help people with big rental tax bills

There has always been a question mark about the ability of politicians to interfere with the workings of the Central Bank.

During the Celtic Tiger years, the Central Bank miserably failed to curb the explosive growth in property prices. Rather than challenging the Bertie Ahern-led governments of the day, it stuck with the famous theory that there would be a “soft landing” rather than a crash.

That was why former Central Bank governor...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Refusing to discuss Irish unity no longer makes any sense for the DUP –talking about a united Ireland is not the same as supporting it

Deirdre Heenan | 1 day ago

A Sinn Féin-led government would have many implications for the country, from tax on banks to the housing market to a border poll

Ian Guider | 1 day ago

Varying interests will be lining up to fight their corner as Europe aims to reorganise and reinvent economic supply chains to ‘reconcile the economy with our planet’

Daniel Murray | 2 months ago