Blaming the US for our recession doesn’t wash

I agree with Damien Walsh when he says that ‘Government parties should ... take responsibility for what has happened under their watch’ (Irish Examiner Letters, February 17). But other statements in his letter are open to challenge.

Blaming the US for our recession doesn’t stand up. Only a small number of eurozone members, Ireland included, had to have a bailout.

What Walsh calls ‘the most favourable currency exchange rates for over a decade, plus exceptionally low interest rates and the recent collapse in the world oil market’ were a big help but, despite these trends, we only have to look at Greece to see how bad things could be.