Wednesday 28 June 2017

Let's add Greenspan to lawsuit list

The Irish Property Council is planning a class action against our 'reckless' State, writes Carol Hunt

You won't get away with standing up on a bus and declaring that you don't know what a tracker mortgage is anymore. Because if there's one thing the current financial crisis has done for most of us former ignoramuses is educate us in economic speak.

As minister Joan Burton told Vanity Fair journalist Michael Lewis recently: "Do you know that the Irish people are now expert on bonds? Yes, they now say 100 basis points rather than 1 per cent! They have developed a new vocabulary." And this week's addition to our ever-expanding vocab? "Class action".

If you, like me, are someone who regularly confuses their 'class actions' with their 'mass torts' and think they only ever occur in John Grisham novels, think again. Because last week the Irish Property Council (IPC) announced that it hopes to take a "class action" in the High Court against the Government.

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