Auction politics back with a vengeance

Finance Minister Paschal Donohoe professes to be very proud of his rainy day fund and it is surely good that our Government has a sinking fund from which resources can be drawn should the national roof fall in, or fiscal dry rot develop.

Mr Donohoe’s €1.5bn contribution to the fund sounds like a lot of money, but is small change. We have been here before, after all.