Irish deputy governor says economy has ‘little safety margin’

stefan-gerlach

Stefan Gerlach, a deputy governor of the Central Bank of Ireland, said on January 14 the Irish economy is still in a precarious position despite being due to exit its International Monetary Fund (IMF) programme this year.

Participating in a lecture series in Berlin, Gerlach said a modest recovery "could potentially take hold" this year. However he warned that a high level of mortgage arrears and a debt-to-GDP ratio that was still at 120% made for a fragile economy.

"There is therefore little, if

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