Tuesday 21 November 2017

There is only one man to succeed Honohan...

Dan O'Brien names the person he believes is the strongest candidate to replace Patrick Honohan at the Central Bank

STEPPING DOWN: It’s possible that Patrick Honohan’s decision to stand down this side of the general election was to make it more difficult to appoint a member of the ‘mandarinate’
STEPPING DOWN: It’s possible that Patrick Honohan’s decision to stand down this side of the general election was to make it more difficult to appoint a member of the ‘mandarinate’
Dan O'Brien

Dan O'Brien

Among the most powerful and important unelected positions in the apparatus of the state is the governor of the central bank. The very high profile of the incumbent, Patrick Honohan, is testament to that. But his decision to step down 12 months early - by the end of this year - raises the hugely important question of who should replace him.

If it is vital that Honohan's successor is up to the job, it is unfortunate that no human being alive possesses all of the characteristics and skills needed to do all aspects of the job well.

The reason nobody can possibly meet all the requirement of the job is because it has such a wide range of responsibilities.

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