Bankrupt assessments

In her letter of Oct 11, Cllr Fiona Kerins says that we in Ireland ‘scored much better than the big two’ — France and Germany — in some past ‘mathematical metric’ that assessed how each country was doing economically. The fact that Ireland is now bankrupt highlights the failings of that particular mathematical metric.

She also quotes an economist as saying that “when the euro was launched in 1999, every dog in the street knew that economic management in core Europe was far more disciplined than around its fringes”.

That raises the question as to why the ordinary people in this country were not warned, then, about what the financial dogs in the street knew. One would have thought that, since what was going on eventually bankrupted the country, it should have been shouted from the rooftops.