Saturday 18 November 2017

Siobhan Creaton: New government has to get bailout back on track -- fast

Siobhan Creaton

They are famed for their unintelligible speech and mystical jargon. So when a central banker uses words like "alarm" you know it is time to sit up and listen carefully.

Once again it has been left to Patrick Honohan to tell us what is really going on behind the scenes in our banks and he has painted a troubling picture of what is facing the next Finance Minister.

The Central Bank governor was the first to tell us that Ireland was about to be bailed out by the IMF and the EU in a memorable early morning radio interview last November when all the politicians had gone to ground. Yet again as we find ourselves in a political vacuum, Mr Honohan went on RTE's 'Primetime' to tell us how the IMF/EU bailout was going, and it wasn't exactly reassuring.

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