Central Bank Governor, Patrick Honohan, who caused a surprise recently by announcing he planned to step down from his role before the end of the year has acknowledged he is an “ideas man - not an implementation man” in an internally circulated personal farewell video to the bank’s staff.
“Implementation, rather than policy innovation is now the key,” he said, “And as you know I am much more of a policies and ideas man than an implementation man. I know a whole lot more about details of central banking policy rather than about the organisation, their management and reward structures."
In the video, which was released under the Freedom of Information Act to the Irish Independent - he added that while he is reluctant to say that Ireland's financial crisis is over, he does believe that the storm has passed.
The open interview process to select his successor is about to begin; Newstalk understands that candidates may be informed that a new senior operations management position will be created to oversee management of the Bank itself.
