Cowen should seek advice nearer home

YOU report (August 22) that Taoiseach Brian Cowen is looking to the diaspora for ideas on how to resuscitate the economy.

The “Peter Principle” says everyone rises to one level above their level of competence – just like Mr Cowen.

His response to Ireland’s financial crisis is “let’s have a party” in the form of a global forum in the Phoenix Park next month.

The brainchild of economist David McWilliams, it is funded by the Department of Foreign Affairs (ie, the long-suffering Irish taxpayer). What can 160 unrelated people, famous as they may be, come up with in two days?

I have been in international finance for 30 years. There is absolutely no need for Ireland to look outside its own borders for advice on anything. With people like Brian McCarthy of FEXCO, international financier Martin Dooney and Ryanair’s Michael O’Leary, why this waste of time, energy and taxpayers’ money?

Mr Cowen seems to have lost all touch with reality and now resembles a man sinking in the financial quicksand of his own creation.

John Hanly

Pleasant Road

High Bridge

New Jersey

USA 08829