Its like watching a car crash. Government bluster was unspun when the Governor of the Central Bank outed the extxent of the bail out needed on Morning Irekand. Since then Fianna Fail and the greens have grasped at straws. Eamon Gilmore, Pat Rabbitte and Michael Noonan have battered the government over their denial at the extent of the fiscal mess.
Basically the problem I the banks. They spoofed the government and Fine Gael and Sinn Fein on the bank guarantee. That pushed back 2 years the day of reckoning as FF & the greens hoped that NAMA would revive their builder buddies and their paymaster banks. NAMA had morphed into a good bad bank while Anglo wanted to be a good bank and a bad bank while nobody told the department exactly how bad the mess was.
Just as Greece misled the EU on their own economic data the Irish big lie was the failure of the banks to level with the government on their precise position and the governments failure to have a regulatory regime. I’ve never rated Brian Lenihan as a Minister for Finance and the media who fawned over him in the last 2 years must be cringing today after his radio interview that failed to explain how the government decision to agree to the EU/IMF programme (not a bail out)) was despite the fact that we had enough money to keep the state (but not the banks) going until June next year was in the best interest of the euro.
It made Brian Cowen’s infamous Galway interview sound positively Churchillian by comparison. John Gormley thinks that the IMF arrival is good and may hasten changes he wanted to see for a long time! Lets see how that one pans out given the reality that TEEU has warned at civil disobedience and already there have been skirmishes between Gardaí and the SWM/PBP micro group at a student demo while an Eirigi councillor has thrown paint at Mary Harney.. The fear is that the next week building up to the demonstration in Dublin next week will be more of the economic reality of the IMF medicine for the country. The fear is that the low hanging fruit is gone and cuts will damage our country beyond the basics of what is needed for a cohesive society.
I hope I’m wrong but this could get very dirty as the Greens and Fianna Fail may well decide to tough it out with the people. Knowing many garda are as fed up with the government as the rest of us, can the government rely on every garda to do their bidding? A government that has just support from 20% of the people in the opinion rivals the support of that wonderful outfit the East German Communist Party at the end. I don’t believe they have any credibility nor right to govern. The Taoiseachs approval rating is now just in double figures and slightly ahead of the yield on Irish 10 year bonds.
We as a society are turning a corner but not the corner visualised when Brian Lenihan called us all to patriotic duty. The time has come for Cowen and Lenihan to do their patriotic duty and go and let the rest of us decide who will run our country. And while I think of it his predecessors son in law who warbles with a boy band has called for economic positivity from us.