ECB needs to admit that it was wrong

It’s little wonder that the Government has not pressed harder against the ECB’s approach to the banking crisis. Both seem unable to accept that a mistake, once made, should be acknowledged, and that this does not have to represent a humiliating climbdown but rather evidence of a learning organisation.

We saw this again this week in relation to both Irish Water and to the toxic legacy of the banking crisis.

Let’s take the Irish Water shambles first.