Honohan proves that he is above politics

Honohan proves that he is above politics

So now we know. The Central Bank, finally, is above political influence. In the past number of months, Patrick Honohan has come under sustained pressure from politicians and policymakers to dilute and water down his controversial proposals to tighten

The Taoiseach, his Tánaiste and their finance minister all expressed concerns at aspects of the rules, which sought to restrict both loan-to-income and loan-to-value ratios of Irish residential mortgages. Indeed, ahead of the publication of Honohan’s finalised proposals, the Central Bank governor met Michael Noonan to discuss the plan.

Against all this popular and political pressure, Honohan largely stayed the course, and held that a restriction was in the best interests of Ireland....

Subscribe from just 1€

Exclusive offers

Choose the subscription that is right for you

Monthly Subscription


For the first month

€19.99 Monthly Thereafter

Subscribe today

Cancel anytime

Annual Subscription


For the first year

€199.99 annually thereafter

Subscribe today

Cancel anytime

Quarterly Subscription


For the first 90 days

€55.00 quarterly Thereafter

Subscribe today

Cancel anytime

These offers are not available for current subscribers. Offers and pricing are subject to change without notice.

Terms & Conditions Apply

Please Subscribe or Log in to continue

Subscribe Login

Related Articles

More from The Business Post