Business Irish

Monday 18 November 2019

Noonan love-in with FT getting serious

THE love-in between the 'Financial Times' and Finance Minister Michael Noonan's policies continues apace.

Yesterday's edition of the 'FT' contained an editorial entitled 'Let Ireland Succeed' which made the Government's case far more eloquently than the Government usually does.

The reason that the 'FT' can argue cogently for Ireland is simple: the paper does not feel compelled to take sides in this country's dispute with Europe over a deal on debt.

It admits freely that there has been fault on both sides.

The paper accepts that the bank guarantee was a mistake, but "not an entirely" voluntary decision.

"By strong-arming Dublin into a deal, eurozone partners safeguarded the interests of their creditors via the Irish public purse," it adds, before arguing that even if the eurozone does not accept that it shares some of the blame, it is only fair that it should reward Dublin's exemplary behaviour.

As we enter another year of talks on the promissory notes and bank debt, it is time Mr Noonan and Taoiseach Enda Kenny modified their shrill complaints and accepted that both sides have made stupid mistakes. It does us little good to complain about unfairness and the like. In the real world, only children say this or that is unfair. We must give our bailout partners credit for their credit, but push them to go the extra mile in 2013.

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