Irish governor bemoans sustained large sovereign spread


The governor of the Central Bank of Ireland, Patrick Honohan, has lamented the size of the Irish sovereign spread as "poor reward" for the country's fiscal discipline.

Irish sovereign spreads – 300 basis points at the longer maturities – are no longer "bloated" by redenomination risk, but are still inflated by a credit risk premium, Honohan said yesterday (January 8).

Honohan remained upbeat about the impact of the European Central Bank's outright monetary transactions (OMTs), and noted

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