Government must learn economic lessons

LOOKING back on 2011, the Government will be kicking itself that it has fallen into the trap of repeating the mistakes of the past by failing to take the steps needed to confront the crisis facing the country.

In dealing with the economy and banking system, the Fine Gael/Labour coalition has failed to learn the lessons of the previous Government.

Budget 2012 delivered the necessary €3.8 billion adjustment agreed with the troika of the IMF, European Central Bank and European Commission, but the swingeing cuts to social welfare schemes and raising revenues from introducing controversial charges and levies has put off the difficult decisions to another day.