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He did not sound very convincing. More or less said that the manageable story is spin for the International Markets, while the reality for the tax payer is different.This is manageable and there is a political elite to manage it
Is PH really FT?
That's the problem, trying to bend over backwards for the international markets and bondholders, and look where it has got us, it is anybody's guess at what rate we will borrow at the next time we go to the market.The next four budgets are 'manageable' when we're talking to the markets, but they're a 'catastrophe' at home......
What a waste of airtime. This man is such a contrdiction. The term "manageable" coming out both sides of his mouth with separate meanings. The professor should have stayed at university. He seems totally unsuited to be any position to effect any change to the banking/financial culture.
Maybe we should leave FF and the Greens there to finish the country--Honohan seemed to indicate that they have made a considerable number of blunders so far---why change a winning team?Im very apprehensive.
Honohans admitted his reassurance that Ireland can manage this problem was targetted at the foreign market and not the domestic market.
He is basing his faith on a political elite that will do all this.
It does not seem possible for Irish govts to slash 4 billion from budgets every year for the next 4 years.
He very clearly drew attention to the content of his report--suggest you read it.What a waste of airtime. This man is such a contrdiction. The term "manageable" coming out both sides of his mouth with separate meanings. The professor should have stayed at university. He seems totally unsuited to be any position to effect any change to the banking/financial culture.