Friday 24 November 2017

Reform commitment

Few would argue with the scathing comparison by the Central Bank Regulator Fiona Muldoon of Ireland's banks to a spoilt teenager.

In more innocent times we might have been impressed by the subsequent concerted critique by the Secretary General of the Finance Department, the Finance Minister and Mr Kenny; for it would represent a progressive development of the highest order were this administration to embrace a new ethos of 'spare the rod, spoil the banker'. The process, however, where the Coalition's commitment to reform accelerates when the troika is in town and evaporates when it leaves means our judgement as to whether this new rigour will be sustained is suspended.

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