Tuesday 20 February 2018

Bank revolt reveals FG's failure to act

The party has yet to deliver on its 10-month-old banking policy, writes Willie O'Dea

'It's the economy, stupid," has become one of the most famous political phrases of the past few decades. It is attributed to James Carville, the motor-mouthed political strategist who helped mastermind President Bill Clinton's 1992 bid for the White House.

While it still has some considerable resonance, another famous quote from Carville seems even more relevant to our problems today. It comes from the period immediately after the 1992 election when Clinton signalled that he would abandon promised spending increases in favour of interest rate reductions.

Carville was appalled by this, saying: "When I die I want to come back as the bond market because apparently it's more important than the Pope!"

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