How will we keep to terms of fiscal treaty?
The troika will perhaps get the heads together and come up with a package of extended loan term and reduced interest rates as Michael Noonan has made it clear this government are not going to do the negotiations on our behalf.
The banks made unwise loans in response to a system of market evaluation of banks based on their revenue to cost ratios.
The banks were operating in a mad world and the treaty does nothing to change this.
Punishing people and blaming victims is a new government strategy only in as far as it now applies to the electorate.
We were fully compliant with the terms of the treaty under the previous government. The treaty fixes something that is a byproduct of the euro crisis and not the cause of the problem. In “fixing” the fiscal problem, logic dictates a change in our bailout terms. The Government is set for a free ride and hence Kenny’s high spirits.
Caitríona McClean
Lucan
Co Dublin




