Stephen Donnelly: Europe's approach to this crisis is evidence of borderline insanity
Persisting with policies that have already failed will prevent Ireland's recovery, writes Independent TD Stephen Donnelly
Psychopathy. "Characterised by a pervasive pattern of disregard for, or violation of, the rights of others. Can involve selfishness . . . a lack of empathy . . . or inability to perceive danger and protect one's self."
IN trying to understand the approach that Europe has taken to the economic crisis so far, we might learn a thing or two from psychology. Were Europe -- or at least the institutions involved in dealing with the crisis -- a person, one might be forgiven for concluding that they were, as a clinical psychologist I spoke to put it, "exhibiting psychotic tendencies". It turns out that psychotic tendencies are quite common amongst senior business and political leaders. I wonder then if institutions can in turn reflect these in how they behave?
The collapse of Lehman Brothers in September 2008 triggered a global panic. It seemed that the banks were not, after all, too big to fail. The banks began to look at what they had been buying and selling for the past few years.