“In taking my decision to retire now..”

The Irish Department of Finance is predicting a €20billion deficit for 2009 and, having apparently promised the EU Commission €2billion of additional cuts, Taoiseach Brian Cowen is listening to those unelected “social partners”. The other Brian, Finance Minister Brian Lenihan, has a suggestion and is also looking somewhat enviously at the neighbouring currency. Meanwhile Patrick Neary, the Chief Executive of the Irish Financial Regulator, is to retire early “at a time of great financial turbulence..” As the Anglo Irish Bank’s board [of directors] know.. How’s that for vision “with a capital ‘V'”?

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  • barnshee

    “and is also looking somewhat enviously at the neighbouring currency”

    Its the economy stupid -That’s why UK stayed out of the EURO

  • ulsterfan

    Britain did not join the “Euro” club and yet Lenihan can not understand why Britain does not abide by the rules drawn up by the club members.
    Britain has every right to use the devaluation of sterling as a means to get an advantage over other currencies /economies.
    Ireland had similar rights vis a vis the punt but handed these rights over to Europe and are caught in a trap.
    Because they made a mistake Lenihan can not criticise the Brits for looking after its own self interest.
    It is still too early to say who is right or wrong but one thing is certain —you lie in the bed you make.

  • Glencoppagagh

    It’s pretty much standard practice for a finance minister to wave the stick while his PM adopts a more conciliarity public stance.
    But are things desperate enough that they have no choice but to attack public sector salaries and accept the electoral consequences? If they do, they’ll elevate themselves into statesmen, a very exclusive club among Irish politicians I’d tend to think.
    Will they have the extra nerve to also include the legal and medical snouts in the public sector trough?

  • Divine Mercy

    The axe will be wielded. There has been a sustained softening up process at work over the last few weeks. Public sector pay will be cut, there will be swingeing cuts in health and education. The financial situation is dire – €20 billion deficit. An Bord Snip Nua will be merciless.

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