Poll indicates that Irish people blame government for economic woes rather than banks

[myk]

From today's Irish Times;

MOST PEOPLE blame the Government for our economic problems rather than banks or financial institutions, a new survey shows.

A total of 39 per cent of adults claims the Government is at fault for the ongoing crisis, compared to the banking industry (19 per cent), the Central Bank (12 per cent) and corporate greed (7 per cent).

The figures are part of an international survey of economic confidence across 19 countries.

The poll in Ireland was conducted by Behaviour Attitudes during February this year and involved 990 people in Ireland aged 15 or more. Polls in other countries were conducted by members of the International Research Institutes Network.

The proportion of people blaming the Government is significantly higher in Ireland compared to the global average of 24 per cent.

There is near unanimity in Ireland that the Government’s response has been inadequate. Some 78 per cent say it is not doing enough, while just 12 feel it is doing enough.

The same pattern is reflected in a largely negative attitude towards the EU’s response, with people in Ireland more critical than those in most other EU countries surveyed.

Most polled blame the Government for economic woes - The Irish Times - Wed, Mar 25, 2009

[FutureTaoiseach]

Note that the Irish Times admits we are the most negative towards the EU response but refuses to reveal the relevant figures. Why is that I wonder? Nonetheless, it perhaps demonstrates that our critical-faculties have not deserted us in the economic crisis. We can see that the EU shared the blame because of the one-size-fits-all interest rate that has inflated and crippled the construction sector.

[Pauli]

Note that the Irish Times admits we are the most negative towards the EU response but refuses to reveal the relevant figures. Why is that I wonder? Nonetheless, it perhaps demonstrates that our critical-faculties have not deserted us in the economic crisis. We can see that the EU shared the blame because of the one-size-fits-all interest rate that has inflated and crippled the construction sector.

The one-size-fits-all interest rate effects could have been mitigated by prudent government policy but it was decided to have a massive party by a minority of people with the government joining in and now the entire country has got the booze bill for the profligate waste of the PD/FF junta.

The cancerous effects of the PDs involvement in government will take a generation to eradicate, so toxic was its pernicious influence.

None of this was the fault of the EU.

[handinglove]

Note that the Irish Times admits we are the most negative towards the EU response but refuses to reveal the relevant figures. Why is that I wonder? Nonetheless, it perhaps demonstrates that our critical-faculties have not deserted us in the economic crisis. We can see that the EU shared the blame because of the one-size-fits-all interest rate that has inflated and crippled the construction sector.

Yes, it was the nasty ECB what done it.

If it werent for them we would all be in clover building houses that nobody needs.

Whats so difficult to understand? You cant base an economy on building houses and selling them to one another at stupidly inflated prices!!!!!!!!!!

[FutureTaoiseach]

Yes, it was the nasty ECB what done it.

If it werent for them we would all be in clover building houses that nobody needs.

Whats so difficult to understand? You cant base an economy on building houses and selling them to one another at stupidly inflated prices!!!!!!!!!!

It was the single interest-rate, together with FF economic mismanagement, that facilitated a situation whereby 25% of Irish men were employed in construction in a context where prices were inevitably leading to a crash in the sector with calamitous consequences for the labour-market and tax-revenues. The EU deserves a major share of the blame for this disaster. Within 18 months of EMU, Ireland had a lethal combination of 7% inflation and 2.5% interest-rates.

[geraghd]

It was the single interest-rate, together with FF economic mismanagement, that facilitated a situation whereby 25% of Irish men were employed in construction in a context where prices were inevitably leading to a crash in the sector with calamitous consequences for the labour-market and tax-revenues. The EU deserves a major share of the blame for this disaster. Within 18 months of EMU, Ireland had a lethal combination of 7% inflation and 2.5% interest-rates.

You don't need interest rates to restrict lending in one sector. And of course we know how usefull the single currency area has been for Ireland as a rock of stability among the chaotic currency markets over the last year or so.

[atlantic]

The ECB for monetary manipulation,Government regulator,Bertie for his vote buying,Bank economists for stoking it .The USA AND Fed setting rates to low after the .com crash and EU/ECB for following the same line.

[jpc]

The one-size-fits-all interest rate effects could have been mitigated by prudent government policy but it was decided to have a massive party by a minority of people with the government joining in and now the entire country has got the booze bill for the profligate waste of the PD/FF junta.

The cancerous effects of the PDs involvement in government will take a generation to eradicate, so toxic was its pernicious influence.

None of this was the fault of the EU.

Very valid observation.
We as a nation were given a very powerfull tool in the adoption of the Euro as its currency.
But as with all such tools care ,disipline, and attention are required.
The dolts in goverment ignored this fact and appointed individuals who in the main didn't carry out their regulatory duties.
The goverment ultimately bears full responsibility.
The goverment issues the banks their licence to operate.
So it is the goverment who can call halt when events are starting to run away.
Bert Ahearn and Brian Cowen chose not to do this.
There lies the root cause of much of our current problem.

[Fab]

[
The cancerous effects of the PDs involvement in government will take a generation to eradicate, so toxic was its pernicious influence.

Probably the most accurate statement that I have read here.

[Dios]

You cant base an economy on building houses and selling them to one another at stupidly inflated prices!!!!!!!!!!

Heh, actually you demonstrably can. It may completely wreck said economy for decades to come, but you can do it alright.