Friday 19 January 2018

Punishment is out of all proportion to the mistake

Eurocrats like Lorenzo are like the new landed gentry gazing down on us, writes Eilis O'Hanlon

JUST when we start to feel that slightest bit better about ourselves, what with the sun finally coming out and that elusive light at the end of the tunnel making another tentative appearance, along comes Lorenzo Bini Smaghi to dampen the mood, penning an ugly little piece in the Financial Times ticking off the Irish for daring to feel aggrieved about being saddled with the gargantuan debts of international bankers when it was us who voted for the politicians who allowed it to happen.

"If taxpayers have the right to share in decision making," the Italian born economist and member of the European Central Bank's Executive Board declared loftily, "they must also accept the consequences."

And we thought Olli Rehn was bad . . .

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