Document Type
Lessons Learned
JEL Codes
G01, G28
Abstract
Patrick Honohan, an economist, was governor of the Central Bank of Ireland and a member of the Governing Council of the European Central Bank (ECB) from September 2009 until November 2015. Early in his tenure, he led a team that investigated the causes of the Irish banking crisis that broke out in 2008 during the Global Financial Crisis. Resolving the problems of bank failure and over-indebtedness that emerged in that crisis dominated his term of office. In late 2010, Ireland had to request financial assistance from the “troika” of the International Monetary Fund (IMF), the European Commission, and the European Central Bank (ECB). The resulting EUR 85 billion (USD 122 billion) rescue program helped stabilize the economy, which returned to growth after 2012. This Lessons Learned is based on an interview conducted with Honohan in February 2021.
Recommended Citation
Haggerty, Maryann
(2022)
"Lessons Learned: Patrick Honohan,"
Journal of Financial Crises: Vol. 4
:
Iss. 4, 617-621.
Available at:
https://elischolar.library.yale.edu/journal-of-financial-crises/vol4/iss4/31
Date Revised
2022-12-22
Included in
Economic History Commons, Economic Policy Commons, Finance Commons, Finance and Financial Management Commons, Growth and Development Commons, Policy Design, Analysis, and Evaluation Commons, Public Administration Commons, Public Policy Commons