True Economics is about original economic ideas and analysis concerning everyday events, news, policy views and their impact on the markets and you.
Enjoy and engage!
Saturday, July 13, 2013
13/7/2013: Reuters on Anglo Tapes & Social Awakening in Ireland
Reuters programme on Ireland awakening to the banking and economic mess. Warning: shameless self-promotion (my contributions included).
It's like two guys walking down a street, and a bird makes a mess on top of the guy in front. The second guy just makes a big arc around the site of the trouble, and says, gee, glad that was not me.
In other words, what we have in Ireland, is a democratic system where no one is willing to spend any political capital on sorting out any messes whatsoever.
I am in disagreement with people such as Fintan O'Toole, . . . in that I would expect political parties to spend what political capital they have, on doing things like a bank inquiry - because otherwise they are just hoarding it for not really good reason, expect to stack it all up and admire it.
But even very 'reform-minded' minds in Ireland, such as Mr. O'Toole, have been 'conditioned' by the reality that political capital is never used here, that even they cannot seem to envision any process, whereby public representatives can work towards anything.
Constantin,
ReplyDeleteIt's like two guys walking down a street, and a bird makes a mess on top of the guy in front. The second guy just makes a big arc around the site of the trouble, and says, gee, glad that was not me.
In other words, what we have in Ireland, is a democratic system where no one is willing to spend any political capital on sorting out any messes whatsoever.
I am in disagreement with people such as Fintan O'Toole, . . . in that I would expect political parties to spend what political capital they have, on doing things like a bank inquiry - because otherwise they are just hoarding it for not really good reason, expect to stack it all up and admire it.
But even very 'reform-minded' minds in Ireland, such as Mr. O'Toole, have been 'conditioned' by the reality that political capital is never used here, that even they cannot seem to envision any process, whereby public representatives can work towards anything.