Counting cost of financial crisis - Immorality of bank deal highlighted

IT is, still, almost impossible to have an objective analysis of the measures imposed on this small country to ensure that our banking system did not collapse and start a destructive domino affect right across the eurozone.

The anger provoked by the fact that the citizens of this country will, for decades to come, pay the gambling debts of the bankers and speculators is very real and shows no sign of fading. That so very few of the lead players in this spectacular destruction of wealth, security and opportunity have not faced any meaningful sanction just rubs salt into that slow-to-heal wound.

That wound will be vigorously scratched during the coming election campaign by those who did not have to deal with the crisis. They will undoubtedly suggest that there was a better way of doing things ignoring the abject weakness of our position and the consequences of not accepting the “advice” of those who controlled the resources needed to rescue our banks and our society.