The worst of it happened in response to the crash?
Are you kidding us?
Between 2004 and 2007 almost 25% of economic activity depended on speculative bank lending, using rezoned land and overvalued property as collateral. The day the banks stopped lending all this liquidity dried up, and all the jobs and taxes (and property values) that depended on this flow of liquidity dried up too.
The problem was our dependence on borrowed money for so much of our economic activity. The problem was the level of Government spending that was predicated on the taxes that flowed from this borrowed money. All of these problems were flagged up by the Greens long before they ever went into Government - and all the while (and even today) we have FF, FG and Labour Councillors still trying to rezone land, and still trying to get the bubble started again.
You may have missed it, but Anglo was confiscated from its owners and is being wound down. There was no "saving of Anglo".No point in whingeing now. The Greens had umpteen opportunities to pull the plug and prevent the saving of Anglo and the creation of NAMA...
They failed at every opportunity resulting in both of those abortions happening...
NAMA, as modified by the Greens, has turned out to have been an excellent solution to the problem that needed solving. Let's just hope that the developers and bankers aren't able to persuade Fine Gael to nobble it before it finishes its work. They are spending a lot of time, money and effort lobbying for it to be neutered.
The Troika that is paying one third of public sector pay and pensions? The Troika that is paying one third of our social welfare bill? That Troika?And you know the sad thing about it all... I actually think they'd a few good ideas and that they could come back to an extent, but not as long as the green troika remain...
There is nothing stopping the new Government from telling the Troika "we don't want your steenking money!" - other than the fact that Government spending would have to reduce by +/-€20 Billion, and the Country would be shut down by the Unions.
And to think that all of this could have been avoided if Irish voters had listened to the Greens in 2002, and had voted in more of them.



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