More pressing issues than interest rate cut

PAUL MILLS states that “default will send us back to the stone ages”.

Not many people disagree. Two and a half years on from the bank guarantee the figures are truly shocking: 45 months’ construction decline, 34 consecutive months of retail sales decline, and 50,000 behind with mortgage payments. Employment in the economy has declined by 230,000. As Dave McWilliams has stated: “Default is the only game in town”. While Enda Kenny and Michael Noonan waste time over a measly 1% interest rate reduction, more small firms close every day.

Cllr Chris O’Leary