Kenny's u-turn on "it's not your fault".

[Gimpanzee]

That is where our trouble started,they looked over at us and got greedy too. Enda will not offend Merkal though.

Same question to you - please provide evidence that French and German banks in particular lended vast sums of money to Irish banks?

[alloverbartheshouting]

Actually people went mad lending and they tried to lend a lot more than people borrowed. I was constantly getting letters offering me loans and credit cards. I binned the lot. But many people were not as pessimistic.

Spot on Simon. My favourite such experience was approaching my bank for a mortgage which I was turned down for (thank God, sez I now...) - but three or four days later, I got a phone call from a very excited call centre employee in the same bank offering to increase my credit card limit from €1,000 to €5,000. When I asked why I was being offered this unsolicited credit facility, I was told that my monthly credit card spend was very small and the bank felt that had I a bigger card limit then I would be able to appreciate the benefits of it more. So, they didn't trust me to cover a mortgage of around €1,500 p/m, but I was good for €5k? I politely ended the call...

When I approached my bank manager about this to investigate further, he was practically fawning over me as he checked my bank account details. At the end of a 10-minute conversation, he was offering to lend more than I'd originally asked for. I should have spoken to him first, according to him. Madness. I couldn;t get out of there quick enough.

I just wish all politicians would stop thinking we're all goldfish who will have forgotten what they said within 3 seconds while they assume we continue swimming about in blissful ignorance.

[paulp]

While over in Davos, did he mention anything about German and French banks lending recklessly to Irish banks, or was Merkel beside him when he made his comments.

Why do you mention it here?
Do you have some facts to back up German and French banks lending recklessly to Irish banks?

http://www.centralbank.ie/polstats/s...ance_sheet.xls

[sport02]

Where's your evidence for French and German banks lending recklessly to Irish banks? I know it sounds nice, but it doesn't seem to be backed by any evidence. Does 'British banks' not have the same resonance to it for some reason?

On the OP - is this a 'Taoiseach States the Obvious' thread?

First of all as our banking system is crippled, it would suggest that the lender to them did not do due dilligence. Were they not keeping a proper close eye on the country. Afterall their goverments, had criticised McCreevy.

Paul Sommerville, Constantin Gurdgiev, Brian Lucey, David McWilliams and other Irish economists along with former Taoiseach John Bruton agree with my arguement.

Quotes from former Taoiseach, Bruton from last year.

It was also the case, however, that British, German, Belgian, American, French and banks of other EU countries lent irresponsibly to Irish banks in the hope that they too could profit from the construction bubble.

“These banks . . . were supervised by their home central banks, who seemingly raised no objection to this lending, which was so ill-advised.”

What was the slogan one economist used, the dogs on the street knew Irish banks were a mess, and european banks kept on lending.

[needle_too]

While over in Davos, did he mention anything about German and French banks lending recklessly to Irish banks, or was Merkel beside him when he made his comments.

This half-brained nonsense again.....

I suppose we'll be blaming newsagents for selling mars bars to fat kids next?

"I wouldnt be obese if it werent for that nasty sweet shop owner", said Fatty McLardarse from his bed in the coronary unit.

[olli rehn]

The Taoiseach has said the problem with our economy was that people went mad borrowing in a system that spawned greed, went out of control and led to the crash.

I totally agree to that statement.
Finally Enda Kenny has the guts to speak about this without trying to please the voters.
This is what happened. The whole neighbourhood here- just a small village- went crazy. There is millions of debt between them. People who have been on the dole for years without end have built huge mansions. Poor farmers got palaces and everybody got one car per year. Several times holidays during the year were the norm.This is just one small village- and there are plenty of them in Ireland !
Nobody forced them to take out these crazy loans. They had houses and cars before- but the lot went bonkers.
The terms of "wreckless lending" or similar mumbo-jumbo talk makes me puke. It is just excuses for ones own madness.
People were behaving in sick ways- and now they are blaming others for their own actions.
About time Enda talks about this. Full marks for him !

[Sheepy]

I like Helle!

Denmark's Prime Minister Helle Thorning Schmidt said it is clear that citizens are prepared to make sacrifices but it is important in the austerity programmes that people themselves are not sacrificed.

[H.R. Haldeman]

From the RTE piece:

Earlier Mr Kenny said the problem with Ireland's economy was that people went mad borrowing in a system that spawned greed, went out of control and led to the crash.

Anyone who disagrees with that is a moron.

And I always thought his "it's not your fault" line was bollox. He was wrong then and he's right now.

[Orchard Rebel]

Same question to you - please provide evidence that French and German banks in particular lended vast sums of money to Irish banks?

Here's a useful indicator:

EZ_BNKMP0811_SB.swf

[greengoose2]

From the RTE piece:



Anyone who disagrees with that is a moron.

And I always thought his "it's not your fault" line was bollox. He was wrong then and he's right now.

Proves that the man is a flip flopper!