Letters to the Editor: Central Bank must modify outdated regulations
The negative effects of Bank of Ireland branch closures and the departure of Ulster Bank from the market may be partially attributed to over-regulation of the sector by the Central Bank, a reader suggests. Picture: Andy Gibson.
The negative effects of Bank of Ireland branch closures and the departure of Ulster Bank from the market, together with the impact that technology is having on many customers, have been well outlined by Patrick Neary and James Heeran (Irish Examiner, March 5, 2021).
Some of these unfortunate events may, in fact, be partially attributed to over-regulation of the banking sector by the Central Bank, which has decreed that extremely high capital reserves must be held in order to safeguard against bad loans.
Such stringent regulations, particularly in relation to mortgages and SMEs, compare unfavourably with those in operation in other European countries. This policy has resulted in fewer loan approvals. Successful banks thrive on lending at high interest rates which, in turn, enhances their profits. When they cannot operate as successfully as they wish, they have no qualms about changing their business-model or quitting the market regardless of their existing commitments to customers.
Furthermore, the banking environment in Ireland is also changing because of the Covid-19 catastrophe. Consequently, the Central Bank should now react and modify their regulations accordingly. This would allow bankers to make prudent decisions based on the needs of applicants while applying sensible parameters. It could, in fact, be argued that the Central Bank’s over-protective measures are now outdated. They were, after all, put in place to compensate for certain banks’ reckless behaviour during the pre-Celtic Tiger era when our country was galloping towards inevitable disaster. The government’s failure to intervene resulted in a severe crisis, the consequences of which are still being felt today. It goes without saying that such a mistake should not be repeated.
Empirical evidence confirms that the recovery of a country is dependent on the wellbeing of its people and their ability to have access to funding for homes and business ventures. This type of strategy is necessary in order to revive deflated spirits and to stimulate a shrunken post-Covid-19 economy.
Margaret Humphreys
Blarney
Cork
There is no safe limit for children and alcohol
While the trend reported from the Health Behaviour in School-aged Children (HBSC) study on children drinking is positive, we should not let a headline comfort us too much: There is no safe limit for a child and alcohol.
The findings highlight that seven out of 10 children aged 15 have used alcohol while four in 10 are monthly drinkers. The Growing Up in Ireland study confirms that by the time these children enter adulthood, 93-in-100 are already committed to provide the alcohol industry with a “lifetime of income” and join the EU’s No1 binge drinkers.
By contrast, truly significant progress has been made on children smoking. In 20 years, Ireland has seen a 70% reduction in children smoking.
How? Because there are no tobacco ads; no tobacco sponsorship in sport; government has made a targeted public health-led intervention on price and introduced accurate health information labelling that informs the user of the known risk. All features of the unimplemented Public Health Alcohol Act. Think what we could achieve for our children.
Eunan McKinney
Alcohol Action Ireland
Coleraine Street, Dublin 7
I’m saying NO to another lockdown
Listen here, Micheál Martin.
I don’t know if you’ve noticed yet, but the people are saying a big NO to any more lockdowns.
You might pass on this message on to the current rulers of Éire — the HSE.
The fact that vaccines will eradicate the Covid danger very soon gives you every reason to address the lifting of masks — the opening up of all business — the freedom to travel widely at home and abroad — and your input to a great deal of positive rhetoric, which has forever been lacking in your gloom and doom leadership, would also be welcome.
We are sick and angry at the way we are continuously being treated like helpless little children. Give over with the “we’re all in this together” balderdash and let us get back to real living.
Robert Sullivan
Bantry, Co Cork
Give us back our peace in Blackrock
A new outdoor gym at Blackrock Castle? Why am I not surprised!
To-date we have seen an influx of coffee cup clutching, power walking, phone talking, over 5km invaders to our area.
Not to mention the lycra-clad middle-aged men, the three abreast joggers who run snorting and spitting past people on the walkway. Don’t start me about those on bicycles, skateboards and electric scooters. It is becoming impossible to stroll the walkway or indeed the Marina.
Now the city council plan a public gym at Blackrock Castle according to a news report in The Echo.
Whatever happened to peace and tranquillity? What price a restful relaxation by the river? In the evening to see the sun slip down the harbour. To sit awhile and just take in the wonder of nature all around. But no, the city council has to be seen to be green. By all means provide an outdoor gym — there are vast tracts of wasteland along the Marina — but please leave the peace and tranquillity of Blackrock Castle intact.
I am surprised that Cllr Kieran McCarthy, a man who is fully supportive of the community, would welcome such a plan. What about the elderly people of the area who appreciate the peace and restfulness of the Castle green? It would appear to me that we in our advancing years are being pushed aside and ignored by City Hall.
Patricia O’Connor
Skehard Road
Blackrock
Cork needs a cleanup weekend
The words of Ewan McColl’s classic song ‘Dirty Old Town’ have been running around my mind over the past couple of weeks. As the weather has improved, it has been great to get out and walk around parts of Cork, within the 5km limit, to appreciate our parks and streetscape.
However, as often happens at this time of the year, the green areas and public paths are looking at their worst — with litter, predominantly beer cans, coffee cups and discarded face masks taking from everyone’s enjoyment of the local landscapes.
To the credit of local community groups and council employees, later in the spring and into the summer typically sees a big improvement in the cleanliness of our public areas — due to organised “clean-ups” and the more regular rota of council grass cutters and litter picking. Of course, it shouldn’t need such efforts.
This year I think we need a bit more. The cleanup groups and tidy towns organisations can’t meet up. The amount of use the local areas are getting is higher than ever.
I went out with my kids at the weekend with litter pickers and a black bag and cleaned up a green area near our house. It’s amazing what can be done in 10 minutes.
Again, we shouldn’t have to do it, but we do.
I’d call on the city council and our city manager to declare a cleanup weekend, whereby local people might fill one bag of rubbish from somewhere near their house. Publicise it heavily on local and social media.
Do it within the next few weeks. I’d ask that the council would match that effort, and send extra council staff to assist the efforts and get our city and suburbs back into shape — so that we can enjoy Cork to its fullest during this time of lockdown and restriction of movement.
Eamon Dwyer
Ballintemple,
Cork
Aon suim i Lá na Gaeilge, éinne?
I am writing in relation to the article by John G O ‘Dwyer ‘Compulsory Irish was all wrong for our national psyche’ ( Irish Examiner, Analysis, March 5).
The decline in the everyday use of the Irish language is mostly due, in my opinion, to the lack of any practical application for it and not the compulsory nature of our education system as proposed by Mr O’Dwyer.
We have adopted English as our main language purely for practical reasons. Even if one were to learn, say, the Spanish language, one could potentially converse with millions of people across the globe: but with the gaeilge it would be in the thousands at best. So it’s a case of why bother.
But I think we shouldn’t be so quick to jettison our native tongue.
The words of our native language are just as important, if not more so, to our understanding of ourselves as a people, as the ATGC letters in our genetic code are.
So I think we should find some way of engaging with ár d’teanga féin. It is my belief that the average Irish person has a greater innate understanding of the gaeilge than he/she even realises and that the only thing that is required is to tap into this hidden well of knowledge.
Maybe for the future one of the days of Seachtain na Gaeilge (March I-17) could be designated Lá na Gaeilge when the ordinary man in the street would be encouraged to engage
with the mother tongue during
his/her daily activities over a 24-hour period.
Michael Henchion
Old Fort Road
Ballincollig, Cork
