Business Irish

Thursday 14 December 2017

No smoking gun in Lenihan's recycled request for bailout

The Department of Finance tried to stop the release and it was only thanks to the European Central Bank and the persistence of a news website that we can now gaze in awe upon this historic document.

In truth, the letter is a bog-standard three paragraph letter from Mr Lenihan to Olli Rehn, Jean Claude Trichet and Dominique Strauss-Kahn.

Why the Department of Finance fought so long for this is beyond comprehension.

Perhaps the only unusual facet is the fact that it was written on recycled paper.

The Department of Finance produces reams of documents but very few appear on recycled paper.

Was Mr Lenihan trying to impress the Europeans and IMF by suggesting that we had already implemented austerity? We shall probably never find out.

Who would have suspected that the mechanics of the bailout were so mundane?

Indo Business

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