Tuesday, November 23, 2010

Ireland's Financial Problems


Warning: This is a RANT

Will the EU & IMF Conditions
Spell the End of the Irish Gravy Train?

It is my personal hope that the massive money crisis Ireland now finds itself in, will put an end to the Band Wagon and Gravy Train mentality which has largely caused the crisis, and so completely swamped the Irish psyche. The Celtic Tiger bred a meaner society, and widely promoted an "I'm all right Jack" attitude.

The Parliament (Dail) and the Public Sector particularly have been severely corrupted in this way. Our TDs (members of Parliament) have several times voted themselves substantial salary increases and dozens of perks.  Prime Minister of this tiny country of four million gets almost as much as President Obama. Retired Government ministers get massive pensions - yes plural - some have three, four or more pensions!!!

One independent member of the Dail clocked up €75,000 in expenses in one year. That figure represents three years earning for many people.

If I was an IMF official the first savings I would insist upon would be:
(a) Reducing the number of TDs (members of Parliament) by half.
(b) Reducing the salary of the remaining TDs by 50%
(c) Capping expenses of TDs at a maximum of €10,000 of receipts p.a.

In fact if the Dail was to show any sort of moral stamina and leadership, they should voluntarily take a 50% salary cut and cap their expenses. But there lies the core of the problem; MORALS and ETHICS.



Mo said...

I sense that we're all on that same train. The only difference is that Ireland is a few cars ahead of many others.

The prosperity we have enjoyed will probably be viewed as an anomaly in human history. Our lifestyle and economy's dependence on cheap energy and perpetual growth will likely find the precipice (assuming we haven't already) and the landing looks like it'll be a hard one.

I doubt it will be long before sustainable lifestyles will no longer be a choice - it will be a matter of survival.

Fergal said...

Hope this doesn't make you angrier but thought you might be interested in this article about the identity of Anglo's Bond Holder