Sunday 21 January 2018

Brendan Keenan: We can't go on fooling ourselves about our missed troika targets

All talk and no action? Finance Minister Michael Noonan and Taoiseach Enda Kenny should stop making spurious claims that we are meeting the troika reform targets
All talk and no action? Finance Minister Michael Noonan and Taoiseach Enda Kenny should stop making spurious claims that we are meeting the troika reform targets

WE have always loved false statistics. In the 1990s before people started travelling widely, we were repeatedly told that Dublin's O'Connell Street was the widest street in Europe. In the 2000s before people began to follow economics, we were repeatedly told that we were the best paid people in Europe although average income was higher in six countries. Today, the great Irish myth is that We are Meeting all Our Troika Targets and by implication deserve to be bailed out.

This nonsense is repeated endlessly by ministers and sometimes even appears to be repeated by members of the troika, but it is factually incorrect.

Just as one can compare national income in reports by the OECD and IMF or easily compare O'Connell Street's measurements with Unter den Linden or the Champs-Élysées, it is not difficult to determine whether we are meeting out targets.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Promoted Links

Today's news headlines, directly to your inbox every morning.

Don't Miss