Johnny Fallon: Joan Burton was simply telling an obvious truth on a second bailout .... why silence her?
Published 16/01/2012 | 11:49
JOAN Burton gave a very honest and forthright interview in the Sunday Independent yesterday. No doubt as the week goes on she will be under much pressure to row back on the positions she took in that interview. The reaction to it in many circles was that she was speaking out of turn, it was some sour grapes, she was undermining the Finance Minister and the government and she was somehow undermining the country
This was because she suggested that unless the EU gets its act together then Ireland will need a second bailout package. While the Taoiseach and Minister for Finance have been telling us that such talk is rubbish, they can’t really expect us to swallow such nonsense.
Does anyone really think that we are going to borrow money at 8pc when we could get a second bailout and borrow at 3pc? On what planet would returning to the markets make sense in such circumstances? Not to mention that if we did have to borrow at 8% then the budget next December would need to be so drastic it becomes unimaginable, indeed it would make last Decembers budget look like something from the Celtic Tiger.