Monday 5 December 2016

Practical solution needed

Published 12/06/2011 | 05:00

Sir -- Ireland needs a cool head with a keen financial brain to get us out of the quagmire of debt which the Celtic Tiger has bequeathed to the nation. Too often we have knee-jerk reactions of wanting 'out' of the EU, shouts for debt default and some still expect the UK exchequer to pick up the tab for the years of financial orgy which resulted in the EU/IMF bailout of last year.

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Michael Soden's proposal that the EU should give Ireland 30 years to repay the debt, with the first 10 years interest free, is the most pragmatic suggestion to date (Sunday Independent, June 5, 2011).

We all realise that the harsh terms imposed on Ireland are counterproductive; how can you amputate the patient's legs and then expect him/her to run in a marathon?

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