Friday 20 April 2018

Marc Coleman: Politicians gone fishin' but money markets never sleep

August is a treacherous month, so our leaders may need more than a bucket and spade, writes Marc Coleman

Should we begrudge politicians a two-month break? Most of us are lucky to get three weeks. And some are unlucky enough to get 52 weeks. In the secure world of the public sector, holidays range from up to three months for academics to six weeks for civil servants.

With a two-month Dail recess beginning, politicians are somewhere in between. But while it's hard to fault politicians for their break -- especially given their more stressful work and potential to get fired -- the coming month could be a dangerous one for taking a holiday.

August is a wicked month, especially during a crisis. In August 2007, BNP Paribas pulled out of the US sub-prime market, triggering the crisis. In August 2008 US government inaction led to the collapse of Lehman Brothers a month later. In August last year Standard & Poor's downgraded US sovereign debt.

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