Tuesday 17 October 2017

How we let a good crisis go to waste

Celtic Tiger allowed any problems to be fobbed off with cash, until it ran out, writes Fionnan Sheahan

Ajai Chopra, Deputy Director of the European Department IMF
Ajai Chopra, Deputy Director of the European Department IMF

DURING the Celtic Tiger days, a cabinet minister explained the general operation of his department. It served as a template for the running of government. The scope for change was limited.

The pay bill was determined by social partnership agreements, which ensured no major reforms could be undertaken that would upset the public-sector unions.

EU directives determined up to half of the legislation brought forward. The Programme for Government meant there had to be constant compromise within the coalition on many measures, meaning anything radical was watered down.

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