Honohan Says Ireland Must Act Fast as Bonds Plunge
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Irish central bank governor Patrick Honohan said the government needs to cut its budget deficit at a faster pace as the perceived riskiness of the country’s bonds jumps to a record.
“Some explicit reprogramming of the budgetary profile for the coming years is clearly necessary soon,” Honohan said in a speech in Dublin today. He said he expects “more clarity” and “detail” on the government’s budget plans.