Bigger the mess, bigger the payoff
Published 30/01/2011 | 05:00
Sir -- In a week that saw a mass exodus of government ministers, the withdrawal of the Green party from coalition, Brian Cowen finally twigging that he is not the guy to lead Fianna Fail, Brian Lenihan went to Europe to try and negotiate a cheaper interest rate on the bailout.
Olli Rehn and his colleagues in the IMF might take a look at how wisely the latest burden of debt is being used. Maybe they will realise that the Irish nation does not need a reduction at all. We could surely afford to pay 10 per cent even maybe 15 per cent given the mind-blowing golden handshakes and pensions ministers are paying themselves.
Maybe the learned money men in Europe will realise that the Irish Government operates under the "B&B formula": the Bigger the mess, the Bigger the pension and golden handshake.