Europe frowns upon our excessive pay-offs, perks and pensions
Published 26/02/2011 | 10:18
A big impediment to Ireland getting a re-negotiated European resolution of the banking crisis is the obscene level of pay, pensions, perks and golden handshakes being dished out to our failed politicians, bankers and civil servants.
German acquaintances of mine are flabbergasted at the scale of these sums in a country that is bankrupt and on economic life support from the EU/IMF.
They see themselves as being prudent and disciplined; regional elections in Hamburg have highlighted this innate attitude, where voters recently gave Mrs Merkel a serious political bloody nose. Any resolution will demand that lopsided austerity measures must be counter-balanced by cuts across the higher levels of the public service appropriate to our current economic status and our ability to pay.