Developers and bankers are not the cause of the deficit the country faces. They are responsible for a lot of overpriced and dodgy housing and the potential millstone which is NAMA.Originally Posted by slumdog1971
Social Partneship is responsible (and government as its driver) for continuing to fund pay increases with boom money. No one said stop. Everyone got what they wanted in partnership agreements and no one gave anything. Never a godd sign.
Not quite true, Union leaders gave the use of their bank accounts to several quango's in order to help spend their allocations
Regards, Pat Gill
You can't really blame the PS for accepting the massive rises - who wouldn't?
Brian Cowen is largely to blame for the mess that we're in, he was in finance during the critical period '04 to '08. He didn't stand up to da Bert when:
1. The banks went mad.
2. Public sector spending went crazy, including pay and welfare.
3. Cost of doing business in Ireland soared.
4. Competitivemess crashed.
5. Tax base was ignored.
Biffo sat on his fat arrrssse and let the above happen, egged on by the muppet Ahearn.
Bloody hell, is this the start of the FF defence for the Developers and the Bankers?
Who bribed every councillor in the country to rezone land ?
Who convinced people that 'Renting is Dead money', that the only way up was by you own property ?
Who allowed developers avail of every possible tax break to keep the party rolling?
Who accepted personal gaurantees on huge loans, sometimes in excess of 1/2 bn euro?
Who offered 110% mortgages to people?
Who talked about moving Dublin port to Drogeda or Dundalk to free up more land fro Liam Carroll and his cohorts to build more shoe boxes to crush more people into?
Who facilitated the ratchetting up of house prices so that employees were forced to look for pay rises so they could get on the property ladder ?
Who shouted stop first? (In case you don'r remember it was a CS union called CPSU who were the first people to talk about the crushing effect high house prices were having on ordinary workers).
Whatever about the argument regarding pay cuts and an employer not being able to pay you are all wrong if you think that Social Partnership caused this economic morass we find ourselves in !!!
This Government, in cohoots with their developer friends, in connivence with the financial system caused this crash and any attempt by people to see it differently is just plain wrong.
The net effect is that the public sector worker is paying more than most (with the exception of the unemployed) to get us out of this mess.
I said I got nothing from the boom, however it's not somthing one can avoid!..
Going to try this again.
There are two issues. One the financial crisis caused by poor regulation and banking practices that boardered if not exceeded the bounds of legality not to mention stupidity.
However, that did not cause the structural deficit in our economy. The fact that we were living on taxation revenues that were unsustainable is what leaves us with the deficit component of our current problems. For that Social Partners (all of them, employers, unions, governement) are on the hook. And while we're at it google David Begg+Central bank.
Nope, I wouldn't but I have argued that there is a societal responsibility for this mess as well. As a group, we all bought in to this.
The government was incompetent, the bankers were greedy and insane, and the public were deluded.
And we all said MORE PLEASE.
Only because they are so poor that couldn’t afford to buy second property to let.
The rest of PS unions supported both property bubble and NAMA
“Every country has the government it deserves.”
Joseph De Maistre
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