Wednesday 18 October 2017

Banks screw us to cover for their loony legacy

While things are getting back to 'normal' for the big guys, says Brendan O'Connor, the little guys are still being screwed by the banks

Johnny Ronan
Johnny Ronan
Brendan O'Connor

Brendan O'Connor

Things are nearly getting back to normal, aren't they? After that unfortunate blip that went on for six, or was it seven? Maybe eight years? Car sales are up 30pc on last year which was up 30pc on the year before. In Q1, as the marketing people call the first three months of the year, 65,000 people in Ireland bought new cars. Remember how we all decided that new cars were a crazy extravagance anyway and that they lose thousands in value the minute you drive out of the showroom? Well, we're over that. They reckon 120,000 people will buy new cars this year.

Things are getting back to normal in other areas too. The Government has put a big push on construction, which is apparently the answer to all our problems. It will give us the houses and the offices we so badly need and it will provide the employment we need. Never mind that we decided a few years ago that we had enough buildings built to do us until the middle of this century and that we should actually be bulldozing houses. We've got over that too.

And of course the developers are back. Johnny Ronan exited Nama last week and is now free to return "to building high-quality developments in Ireland and abroad".

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