Ask our tycoons to point way out of the mess

NEITHER this Government nor the younger generation have previously experienced a serious recession because this is the first time in more than 20 years that we have had one and so our ability to deal with it is questionable.

What makes matters even worse is that many other western nations are in a similar predicament. Collapse of the building industry, property market, share prices, rising unemployment and escalating interest rates all contribute to our plight. The common denominator is the surging price of oil, over which we have no control.

RTÉ One presented a programme (July1) on 50 of Ireland’s wealthiest and most successful men and women, entitled ‘Ireland’s Top Earners’. The programme outlined in detail the millions of euro those 50 entrepreneurs added to their incomes in the past year alone. The media regularly feature our rich and famous multimillionaires who are now numbered in thousands. Many of them are also philanthropists noted for their foundations, trusts and charitable contributions to the nation.