Ireland should look to the millennium as a guide for restoring its economic fortunes, said Patrick Honohan, in his first speech since taking over as governor of the country's central bank.

The goal of policy "should be to regain, as far as possible, many of the structures and relativities of just a short number of years ago," he said. "Replicating the past is not fully possible, but we can come close, especially if the global recovery strengthens," he said, adding that it was not necessary to