Friday 19 January 2018

Praise will not erase the strife

COVER stories in Time about the 'Celtic Comeback' may do no harm, but any rush of political euphoria within the embattled Coalition ranks will not last beyond the weekend. Foreign praise is nice, but it will not erase domestic strife or the growing belief that this government is becoming far too timid for its own good.

This accelerating trait is all the more surprising in an administration which, on entering office, donned the apparel of a war-time cabinet. However, its initial dash of reforming zeal has been replaced by a careerist caution where, like its Irish Parliamentary Party ancestors, Fine Gael is happy with a form of Home Rule where it meekly does the bidding of the troika.

Sadly, Ireland's self-proclaimed status as a troika client state also means it is unlikely that this administration will screw up the courage to challenge the great Deflation Myth, where the political elite of a continent, outwardly at least, clings to the belief that only cutbacks will end the Great Disruption of Europe's economy. Past experience means voodoo economics is indelibly linked with the inflationary politics of figures such as Charles Haughey. But, deflation can be equally illogical; particularly if this impulse is informed by the desire of the Presbyterian Nordic states to punish 'profligate' Mediterranean sinners like ourselves.

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