FT shows 'Dublin's Shame'
Published 09/11/2012 | 05:00
IF anyone thought the storm over bankers' pensions was a minor matter that was being blown out of proportion, then today's 'Financial Times' editorial should put paid to such a notion.
When it comes to how Ireland is viewed by international business, the FT matters. Hardly a left-wing mouthpiece, the fact that it has deemed the pensions row as worthy of comment gives us some idea of how important this issue is.
"Dublin's Shame", as the piece is headlined, captures in a nutshell the hubris and lack of self-awareness in our top bankers. The FT says the men who refuse to voluntarily take a pension cut will be "pariahs" in Ireland. The same could be said for a country that can't control its state-owned banks.