Monday 20 November 2017

It's Captain Hindsight riding to the rescue once again

Ashoka Mody had some choice criticisms of the Government this week, but do the experts agree with him?

Stephen Kinsella
Stephen Kinsella
Micheal Collins
Jim Power
Philip O'Sullivan
Austin Hughes
Donal Lynch

Donal Lynch

Is it a bird? Is it a plane? No it's just the market's favourite superhero, Captain Hindsight. Or at least that was what some experts were calling Ashoka Mody, the Indian-born economist and Princeton professor who was part of the IMF's team dealing with Ireland. Last week he told Newstalk that the Irish Government could have "absolutely" secured a better deal from Europe after it was elected in 2011.

"Ireland fell in with that culture, Ireland had its opportunity to, not just for itself but for Europe, in a way, Ireland in accepting the premise that Brussels and Berlin determine economic policy in every country," Mody said. "Ireland fell in with that premise and therefore perpetuated a culture that this current Greek government is trying to break."

The Minister For Finance, Michael Noonan, gave the comment short shrift, saying: "I suppose when he was there and when he was in a position to do something, he didn't do much for us, so advice now that he is no longer in a position of influence, would be taken lightly". But then he would say that. We spoke to a few economists and experts in the field and asked them if they agreed with Mody's comments and if he was right to speak out on such a politically toxic issue. This is what they had to say:

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