Political pension class who bypassed austerity
FIVE years ago this weekend, our political masters tied our country to a toxic banking system, pushing us towards a bailout, national humiliation and years of grinding austerity. Its signs are still everywhere. The chatter now is of another austerity Budget. The news bulletins tell us how many of our youngest and best have left our island.
Micheal Martin yesterday defended the bank guarantee as the "least worst option" available to the Fianna Fail-Green Party Coaliton as the financial world collapsed around it.
That may be so, but years of stoking a housing boom, non-existent regulation of the financial sector and allowing public spending to spiral out of control on the back of unsustainable property tax receipts were options which that era of politicians were only too eager to take.