The banking crisis - Extent of bank’s losses is staggering

ONE of the more colourful but chillingly accurate phrases used to embroider our public discourse in the not-too-distant past was given to us by a former EU commissioner.

Though it is hard to believe that it was offered all of 17 years ago it was used in connection with the debate of the day: whether or not the EU Maastricht Treaty was a good thing or otherwise for Ireland.

Our gallant commissioner suggested that listening to a group of Fianna Fáil backbenchers discussing the treaty was like watching a group of chimpanzees, each armed with a screwdriver, staring into the workings of a broken television set wondering what to do next.