Honeymoon is over, it's time to deliver
"Taking all of the losses of the banking system and putting them on the balance sheet of the Government doesn't make sense," Nobel prize-winning economist Nouriel Roubini told the Irish Independent (April 4). "Eventually, the back of the Government will be broken."
A better solution needs to be found and burden sharing should feature. The Government needs to remember this is a eurozone problem and this puts us in a strong negotiating position. If our EU partners wish to avoid an Irish default and subsequent contagion, then assistance needs to be offered, including an interest rate reduction and debt restructuring.
The Irish people voted for change; the new Government needs to start delivering. The honeymoon is over.