Monday 19 March 2018

Developer 'threatened to make Central Bank governor's role untenable' - report

Developer Greg Kavanagh. Photo: Gerry Mooney
Developer Greg Kavanagh. Photo: Gerry Mooney Business Desk

Irish property developer Greg Kavanagh threatened the Central Bank early last year, saying he would spend millions on advertising to "highlight the shortcomings" of the State institution.

According to a report in The Irish Times, Mr Kavanagh said he would spend so much that he would have made the governor's position untenable.

Kavanagh's threats came via email to the bank after its governor Patrick Honohan said he could not meet with him as he was too busy.

Mr Kavanagh sought the meeting to raise concerns over distressed American bank loans relating to the US's oil industry.

The property chief said he has since learned to take a more considered tone when asked about the emails.

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