Friday 23 March 2018

High price for slavish loyalty

Brian Cowen will be long remembered for two calamitous events that occurred on his watch in charge of the nation's affairs: the blanket bank guarantee of September 2008 and the EU-IMF bailout of November 2010.

The first, less than five months after he took office as Taoiseach, marked the beginning of a lurch from one economic disaster to another; the second deprived our country of its economic sovereignty.

It was accompanied by a series of chaotic political developments, which culminated in his forced resignation. Ever since, we have lived with the legacy of that toxic premiership.

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