Greek bailout - Appalling failure of governance

LIKE Ireland, Greece had no other choice than to swallow an unprecedented dose of unpalatable medicine to resolve an economic crisis that rocked the foundations of the EU.

Unlike Ireland, where draconian measures were introduced at an early stage, whatever one may feel about them, the Greek government has been dragged kicking and screaming to accept what amounts to the first ever bailout of a eurozone country.

Further similarities between the two nations include an appalling failure of governance. Here, the greedy policies of a Fianna Fáil-led administration contributed significantly to our economic woes. In Greece, the government deliberately concealed the true extent of its economic deficit.