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Michael Noonan thinks he should be applauded since he borrowed €5bn last week on behalf of the Irish people.
One problem is that he never highlighted to the people that this money is not needed until the end of 2013, and at that stage it will have cost the taxpayer around €200m in interest.
At the moment, our bailout money is costing 3%, but this money is costing 6%, twice as much.
Not much logic in that for money we do not need.
That amount of unjustified interest that is being placed on the taxpayer would more than pay the total household charge bill.
Of course, all of this was just a PR exercise and an ego trip for Enda and the boys at our expense yet again. Michael Noonan spoke about dipping his toe in the markets to test the water, but the result is that the taxpayer got scalded.
They conveniently chose to borrow this money last week since the Dáil is in recess and they don’t have to face any debate on it.
Marching for chieftains
It is deeply disturbing to see a line of celebrities heading up a phalanx of thousands of the plain people of Ireland in rejection of a contempt of court order and sentence made against members of the Quinn family.
There is, however, a historical meaning to it all. This is the Irish people marching for their chieftain. It is a form of feudalism that Irish people seem to love. They love to be ruled, rather than take responsibility for the republic that was handed to them by courageous men and women in the early 20th century.
Haven’t we enough communities electing cute-hoor politicians to rule them?
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