Saturday 10 December 2016

Let's join the 21st century with an easy fix for housing crisis, once and for all

Published 11/05/2016 | 02:30

The State could issue a Housing Executive Bond, which it could sell to Irish residents who are sitting on €94bn in the Irish banking system
The State could issue a Housing Executive Bond, which it could sell to Irish residents who are sitting on €94bn in the Irish banking system

When I was a kid, the coolest thing you could do when you grew up was to go on the Magic Bus from Dublin to Greece. All the hip older brothers of my mates did this. They worked in London for the summer on the sites and then spent the lolly on PLO scarves, massive spliffs, a copy of the Little Red Book and a one-way ticket to Mykonos to lose their virginity to a German hippy with hairy armpits.

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The Magic Bus shuttled all around Europe and took thousands of Irish teenagers on the initial Dublin to London part of the odyssey.

Nobody got the plane from Dublin to London because, before Ryanair, it was too expensive. Before the Ryanair Generation, there was the Magic Bus Generation. The cost of the flight to London was £280. Aer Lingus said it couldn't be done for less, until it was by Ryanair, who came along and started slashing costs.

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