Sharing debt burden

A Leavy (Letters, Mar 14) would do well to remember a few facts.

Ireland makes up 0.9% of the EU population and 1.2% of the EU GDP, but has paid 42% of the European banking crisis. Our bank recapitalization has cost us €69.7bn to date. The promissory note deal has merely hidden a debt that was fairly suspect in terms of its legality to start with, and the only burden sharing that has happened is that we get to share our debt with our children and grandchildren.

Perhaps A Leavy buys into the whole “we all partied” lie, but I don’t. Private bank debts should never have been allowed to become sovereign debt. It wasn’t and isn’t my debt and it isn’t my children’s debt.