Time for Good Ireland to tell Bad Ireland to split - The Irish Times - Fri, Sep 24, 2010
It could be quite genios... think of the emotional reunification in 50 years...“Good” Ireland would retain most of the national territory, including islands and seas; all working parts of the economy; success in the arts and sport; a reputation for friendliness; any remaining tours of Riverdance , etc. “Bad” Ireland (BI) would take over the mess left by the construction bubble. In this respect, BI wouldn’t be so much a country – at least initially – as an asset company with impaired loans.
Its vast debts thus moved “off-balance-sheet”, Good Ireland would (one hopes) soon recover a triple-A credit rating and be borrowing money again at under 3 per cent, like the Germans. Bad Ireland, meanwhile, could test the thesis – popular among some economists – that markets have short memories, and that having failed to reward us for being virtuous, they might equally fail to punish us for defaulting.
This is a radical proposal: untried at national level anywhere. So in breaking new ground, there would be many big questions to answer.
FF could run BI and someone with a mandate and the will of the people can run GI.
Many is the true word said in jest.