Government must end standoff with banks
The outlook for this Government would undoubtedly be a lot more promising if it kept its promises. Yesterday was the deadline set by Minister for Finance Michael Noonan for the banks to deliver on his demand for action to relieve home owners paying some of the highest interest rates in Europe. This is despite the fact that money rates are at near-historic lows.
Deadlines are set to stimulate action and get results. But Mr Noonan's call has so far only produced an empty echo, as his words fall on deaf and defiant ears.
His display of "soft power", as described by one Government minister, has yielded nothing. Now Taoiseach Enda Kenny has assumed the role of 'bad cop'.