WITH a third of the year now gone, we are getting a more accurate picture of the real state of the public finances. The picture is not terribly pretty. In the first four months of the year the Irish exchequer had to borrow €9.9 billion to run the country. This compares to €6.9bn for the same period last year.

THE economic and financial travails of Portugal and Greece are becoming more apparent by the day, while the bad debt performance of the Spanish banks continues to deteriorate.

THE recriminations have been flying thick and fast since the latest piece of very bad news on the banking sector was released last week.

YESTERDAY marked another black day in the recent history of the Irish banking sector and the economy.

IRELAND’S international reputation has been dragged through the mire over the past five years.

IRELAND’S political leadership has been totally dysfunctional for at least three years. The government was paralysed in the face of the enormity of the banking and economic crises, and communication with the public was abysmal.

THANKS be to god the election campaign ends today. It has been one of the longest and most laborious election campaigns I have experienced in my lifetime.

2010 began with the country paralysed by snow and it is ending with the country again paralysed by snow.

IT is repetitive in the extreme to suggest that this was another momentous week for Ireland, but the truth is that it was. However, it has joined a lot of other momentous weeks for Ireland in recent times.

ON Tuesday, Ireland once again featured on the front page of the esteemed Financial Times, and once again for all of the wrong reasons.