Wednesday 28 June 2017

We told you so and now even the IMF realises we were right

Ireland cannot continue to sacrifice everything, even people's lives, in order to balance the books, writes Brendan O'Connor

YOUNGER readers won't believe this but there used to be a time when the IMF was the bogeyman in this country. If we didn't behave ourselves, the IMF would come and there would be no pussyfooting around. They would slash public sector wages in half and double taxes and get our house in order in jig time. This was before we learnt to live quite casually with the fact that we are no longer an independent country and that we are subject to something called the troika, one third of which is the IMF.

That would have been unthinkable back in the day, that we would not be governing ourselves. Back then, it was regarded as the ultimate shame if the IMF had to come to a country. It was something that happened to banana republics in South America and basket cases in Africa. The IMF had come to the UK once but that was an aberration, apparently. It really wasn't something that could ever happen in so-called developed countries.

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