Honohan says bailout terms were disappointing

25th June, 2015
Central Bank governor Patrick Honohan

Central Bank governor Patrick Honohan said that while the original terms of Ireland's 2010 bailout were “disappointing and unsatisfactory,” the programme limited the need for fiscal austerity and underpinned a “rapid return to confidence”.

Honohan told the Oireachtas banking inquiry that the original interest cost of the bailout and the lack of an insurance plan for risks attached to the banks' weak loan were not helpful.

But he said it became increasingly...

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