Saturday 10 December 2016

How can we trust a bank that is seen as the enemy?

Lest we forget, Ireland's economic 'betrayal' was first perpetrated by our homegrown political elite, writes Jody Corcoran

Published 08/05/2011 | 05:00

A devastating attack yesterday by Morgan Kelly on Patrick Honohan, properly raises a question for the first time about the role played by the Governor of the Central Bank in the mismanagement of Ireland's crises.

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The turning of the spotlight on Honohan, until now regarded as an avuncular figure upon whom we could rely, when all around us political leaders had failed, also serves to raise further questions about the role being played by the ECB in our slow-motion car wreck.

Not before time. If anything, it is a little too late. As Kelly points out, as well as being Ireland's chief economic adviser, Honohan also "plays for the opposing team" as a member of the ECB governing council.

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