Paralysis by analysis is not the way to sort out the housing debacle

OUR contemporary Celtic crisis is akin to a three-leaf shamrock. The first component is the banking failure.

This has been subject to unlimited resources in the form of €40bn for NAMA to take toxic assets off balance sheets and subsequent recapitalisation of €50bn to date.

The second facet is the fiscal deficit arising out of the imbalance in our public finances. At last, politicians are obliged to implement a credible four-year budgetary plan.