Sunday 11 December 2016

Only thing EU wants is our compliance

Published 09/07/2011 | 05:00

A ratings agency is downbeat about Ireland's financial prospects and rates us as one notch above junk status. How quickly we have forgotten about the 'Enron saga', where seven out of eight ratings agencies had Enron at 'a buy' -- before the downgrade.

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As a 50-ish Irishman still living in our wind-swept Celtic Shangri-La, I'm not inclined to invest too much hope in our emissaries to Europe.

Like the reservation chiefs of old who were compelled to travel via the 'Ironhorse' to Washington to visit the 'Great White Father' to see if their tribe could have meat rations, our 'chiefs ' travel to Frankfurt, to see our 'Great-Grey-Father' -- Jean-Claude Trichet. Bottom line: the only thing required of us is our compliance. If this were a film, it would be called 'How I learned to stop worrying and love the euro'.

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