Sunday, March 28, 2010

If you are open to everything you stand for nothing

From every disaster lessons are learned and new ideas spring. The kind of thinking that was ripe in the Celtic Tiger era will not bring back prosperity to Ireland.
What we need now is to base out economics on a sound footing by putting the lifestyle of constant borrowing behind us. Quick fixes only work for a short time. Being a small Open Economy no longer has advantages because the Banks world wide don't trust us, neither do international investors. They see us as a gang of cowboys.
The saying "If you are open to everything you stand for nothing" surly applies to the Apostles of the Celtic Tiger. Ethics in business went out the door. Fly by night business were built on large bank loans which were backed by an nod and a wink Bank lending policy. Some chancers started businesses they knew nothing about thenn hired managers to run it.a manager. They bought the big car, fancy house lived the life of Reilly. "No one was minding the shop". It was all crazy.
In NAMA we the taxpayer are paying back money owed to International Banks! Now do these banks and the ECB see Irish taxpayers as some sort of "idiots" willing to take on more debts should the plans go pear shaped?
Now we the taxpayers are to take risks again for people who did not have the necessary money to fund their own projects. They used Public Private Partnership deals to get the taxpayer to back massive loans. The two edge sword is that under Strategic Infrastructure laws these projects were be passed without the public having any veto. Crazy!

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GALWAY, Ireland
Born in Gaway City,spent 10years living in Roundstone, Connamara. Passionate about politics, singing and oil painting. Not a great cook but could learn

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