Thursday 17 August 2017

Brendan Keenan: Ireland has favoured inflation over realities of euro regime

OSCAR Wilde warned against approval of what is approved of. If I may be so bold as to put it another way; the opinions of those who do not much approve of you are likely to be of more value than those of your admirers.

Or so I thought, reading a recent analysis from the UK Institute for Economic Affairs (iea). This is a respected think-tank, but it is what the British would call right-wing -- which means it is beyond the visible spectrum in Irish politics. So we might hear things from it which would not find a voice in our own debates.

It would start from a different place. A body such as the IEA would not be very keen on the whole idea of the euro. It would have nothing against Ireland, per se, but it might share that British attitude which one has come across, more sorrowful than angry, that we have taken a wrong turn in joining the European currency, and really should have known better.

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