UCD Professor: Ireland heading for debt default

[Middleaged]

This week's Economist is out and it investigates the prospects of Ireland or Spain defaulting.

I'm paraphrasing a bit, but it's roughly the same chance as Tanzania winning next year's Eurovision. It'll be a tough oul' slog, but you'll grow wings before we default.

Now, now this is no place for proper analysis.

[Dillinger]

The size of the public sector isn't the problem, its the cost of it, and its very uneven efficiency.

At the moment sacking people is just putting them on the dole. There has to be a strategy for increasing productive jobs and tourism. It should be, after trying to douse out the banking inferno, our number one priority.

I know people in the public sector who do a 20 hour week, and they get 70K a year. Something has to give alright. Now, I know that not everyone in the PS gets this sort of cash, but, there is too much dead wood at the same time.

[Dillinger]

This week's Economist is out and it investigates the prospects of Ireland or Spain defaulting.

I'm paraphrasing a bit, but it's roughly the same chance as Tanzania winning next year's Eurovision. It'll be a tough oul' slog, but you'll grow wings before we default.

Typical Irish response to a problem. They never prepare for the worst scenario, they think they are "different". We need to drop this attitude, and prepare for anything. This country needs a good kick up the hole.

[Benz]

I know people in the public sector who do a 20 hour week, and they get 70K a year. Something has to give alright. Now, I know that not everyone in the PS gets this sort of cash, but, there is too much dead wood at the same time.

I know a surgeon who works about 4 days a week and gets a million Euro a year. And retirement isn't too far away for him and then he'll get a full years pay on top of his other pension entitlements.

And upon retirement he will sell his office in the hospital for a shedload of money.

And he'll continue to work as a consultant in the private sector.

And we think that Cowen is overpaid (which he is!)

The very last thing I am is a socialist but you can't get away from the fact that we're poor because they're rich.