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Archive for November, 2010

Should We Sting Our Saviours?

SO who is in the driving seat? A small island nation, representing just 1 per cent of the European economy, has caused 90 per cent of the turmoil in Europe over recent weeks. It has extracted €85bn in aid — 11 per cent of Europe’s fighting fund — for itself.

Quite a disproportionate trail of destruction has been left by the Irish recklessness in its wake. We have made an indelible mark, never to be forgotten or forgiven by our European partners, blasting a crater in the €750bn fund.

The fund is too small. The euro is badly wounded. Ireland is being blamed.

Good. Let us look at the upside.

Honohan: Hero of the Hour

IF Brian Cowen had a shotgun in his hands last Thursday morning, at whom would he have taken aim?

At Enda Kenny, leader of the opposition, the favourite to succeed him?

At Sean Power, his former Minister of State, who had launched a broadside against the Government in the Dail chamber just 12 hours earlier?

Or would he have taken a last stand against the IMF invaders from Washington, as they made their assault on the fortress of the Department of Finance in Dublin’s Merrion Street?

Cowen was under siege from political opponents within and without. Spared from execution by his political allies at home, he was about to be imprisoned by foreign forces. He was surrounded. If he had one shot left, guess who he would have blasted with both barrels?

None of these. Not even his heir apparent, Brian Lenihan. No, the Taoiseach would have blown his own chosen chief financier into kingdom come. On Thursday’s Morning Ireland, he was ruthlessly exposed by Central Bank Governor Patrick Honohan.

Call in Cavalry from the IMF

DO you expect to wake up one morning, switch on the early news and hear that the International Monetary Fund had swooped at dawn?

Do not be surprised. And do not be too upset.

Welcome or not, reinforcements are at hand, poised to take over.

Energetic measures have been taken to prevent the humiliation.

Gorging on the Property Carcass

RTE’s Marian Finucane delivers many of the best interviews in the Irish media. She takes her time while she solicits sometimes sensational replies from innocents sitting at their ease in her Donnybrook studio.

Marian has scored historic hits. Two years ago, she exposed the hubris of Anglo’s Sean FitzPatrick just days after the government guarantee had bailed out his bank and saved his skin. A few years earlier, she made a monkey of former minister of state Joe Jacob when he prattled on about how his magic supply of iodine tablets would save Ireland from the dangers of radioactive fallout. The nation was in stitches.