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Don't blame all of us for economic crisis


BRENDAN Keenan states that "our foolishness" has removed our national sovereignty, both morally and legally (Irish Independent, October 21).

Then he advocates a whole lot of measures that "we" must "apply ourselves seriously to" in order to solve our problems.

Brendan Keenan is wrong on one thing. It was not "our foolishness" that has us beholden to the EU, the International Monetary Fund or the dreaded bond markets. It was the arrogance, hubris and recklessness of a small number of people at the top in government, banks, construction, etc.

He is, however, right in saying that the problems so created are now "ours" and we need to apply ourselves to solving them.

If our democracy means anything the first thing that needs to be done is that those powerful people who are responsible for the problems be held to account. We then need to decide on how the cost is to be shared between us.

Decisions like those have to be made by open political debate, not by stitching up a bogus consensus behind closed doors.

A Leavy

Dublin 13

DAVID McWilliams (Irish Independent, October 20), presents a premise which seems to be nonsense.

"A recession like the one we are experiencing happens because people start, quite suddenly, saving much more of their income".

If the premise is nonsense then there is little hope for what follows from it.

It seems to me this recession happened because of borrowing and spending profusely when the capitalist world foundation of wealth development was being destroyed by the adoption of moronic premises. This involved -- in a combination of government policy and banking incompetence -- the abandonment of the ethic of long term social conscience and the rapid expansion of globalisation.

The EU currency was rather new and perhaps this partly excuses the failure to better protect it from those who were prepared to play sleight with it, maybe to get around the protective clause limiting budget deficits to 3pc.

A solution to a "recession like the one we are experiencing" would seem to have to start with a definition of its cause.

Peter Kinane

Dundrum, Co Tipperary

Irish Independent