“There’s not much evidence that this will be a short process. We will be lucky to be back to the level of 2019 activity by the end of 2021”
Even after stepping down as governor of the Central Bank in 2015, Patrick Honohan has remained an articulate voice on Irish economic policy. This has been evidenced with his interventions on the current crisis, warning the government against virus loans to domestic businesses and dismissing the notion of helicopter money. In this podcast, he argues Ireland is in a much better position to weather this crisis than the last. However, he remains worried about the potential impact of the crisis on domestic banks and the future SME debt burden, while also warning on the difficulties of relaunching an economy.
