Honohan

"This proves to have been one of the costliest banking crises in history," Mr. Honohan said.

Ireland's Banks Get Failing Grades David Enrich 2011

Associated Press Patrick Honohan, the governor of Ireland's central bank Portugal on Thursday restated its budget deficit, which is now at 8.6% of its gross domestic product, exceeding its target levels.

Ireland's Banks Get Failing Grades David Enrich 2011

Still, Mr. Honohan said the EU and IMF intervention over time would restore confidence.

Irish Recovery Modest 'at Best' Eamon Quinn 2011

The likely result will be that the government takes majority ownership of the country's six largest lenders, said Patrick Honohan, the governor of Ireland's central bank.

Ireland's Banks Get Failing Grades David Enrich 2011

Honohan says all four will need bailout funds to boost their reserves and cover the cost of more loan write-offs.

Ireland: Banks need $34B more to survive shocks 2011

Mr. Honohan said Monday he wouldn't make any comments on the crisis facing Greece or talk on the elevated yields on Irish sovereign bonds.

Irish Recovery Modest 'at Best' Eamon Quinn 2011

European Central Bank talks about providing a program of so-called medium-term funding to troubled euro-zone banks continue but no new initiative is expected soon, Mr. Honohan said.

Irish Recovery Modest 'at Best' Eamon Quinn 2011

DUBLIN—Ireland is making progress in meeting its bailout program from the European Union and International Monetary Fund but still faces tough times because the Irish economic recovery will be "at best" modest this year, Irish central-bank governor Patrick Honohan said Monday.

Irish Recovery Modest 'at Best' Eamon Quinn 2011

Mr. Honohan, speaking to journalists at the publication of the bank's annual report, said there was no need for a "hypothetical" discussion about whether Ireland will need a second bailout if it is unable to return to market funding next year.

Irish Recovery Modest 'at Best' Eamon Quinn 2011

But Mr. Honohan said the ECB talks had stalled, although the central bank will continue to bankroll the Irish lenders.

Ireland's Banks Get Failing Grades David Enrich 2011