Patrick Honohan: Household indebtedness – context, consequence & correction Address by Mr Patrick Honohan, Governor of the Central Bank of Ireland, to the Limerick Law Society, Limerick, University of Limerick, Limerick, 14 March 2012. *  *  *  How quickly the lubricant of credit turns into the millstone of debt, the slingshot of leverage into a lethal boomerang.
Dealing with debt has, throughout history, been a central – and frequently fraught – challenge for economy and society.