Bailout exit praise is undeserved

Exiting the bailout is possibly an opportunity rather than a conclusion (Irish Examiner, Dec 14).

But there is far too much backslapping among our top politicians about the part they played in the exit.

The Troika wouldn’t even have been needed had politicians faced reality, ignored the mythical Celtic Tiger, and acted appropriately towards the banks, the developers and the public. A semblance of prudent leadership from the top, when it was becoming obvious the possible was about to become the impossible, would have been accepted nationwide. Yes, it seems, the last government may have to carry the buck.

Being honest, however, parties, politicians and governments differ little when in power — other than faulting the previous ones.

This Government has acted as tabby cats to the Troika over the past three years, genuflecting to their every whim, hobbling a broken people — as if trying to pump blood from a turnip. In their recent, secret meeting with the Troika, what concessions were the Government promised before the departure, apart from the reminder that ‘we’ll be back’?

What a buffer for the future welfare of our banks if the Troika had offered practical help in sorting out the tracker mortgage burden? This advice might ward off the possibility of another bailout, get the banks lending more freely, and let the economy move on.

James Gleeson

Thurles

Co Tipperary