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McWilliams's analysis beats Dalai Nama's


This morning, I intend to go into town to buy three picture frames. Into them will go two of the most sensible articles I have read in a long time, and one that, sadly, illustrates everything that is wrong with this country.

All of these items were published in Saturday's Irish Independent. The two I awarded accolades were 'If I Were Taoiseach...' by David McWilliams and 'NAMA the Solution?' by Bruce Arnold, both produced by brilliant analytical minds.

As a stark contrast, there was an essay by the Dalai Nama himself, Finance Minister Brian Lenihan, entitled 'Rising Export Sector Will Lead Recovery of Ireland's Economy', a piece full of the usual waffle, bull, mangled statistics and wishful thinking to which we have become accustomed from our present Government.

If anything illustrates that the prerogative of voting for electoral candidates by their bloodline, rather than ability, should be well and truly over, your edition of last Saturday does.

Well done.

D K Henderson
Clontarf, Dublin 3

  • David McWilliams, Irish Independent, January 8, writes: "The more people save, the less they spend and the more the economy shrinks."

Plants facing winter conditions store energy and in the spring invest it in the prospect of development. There is a time to sow and a time to reap.

We must act cautiously with what remains of our wealth until it is clear that we are facing spring rather than winter conditions.

How much responsibility and what losses we should expect foreign banks to take for making loans to (our) institutions -- which were subject to the culture and supervision and autonomy of our society -- is a matter on which I would disagree with Mr McWilliams, when he writes: "Current policy is amoral. The bank debts are not ours; they are the debts of the banks, which were incurred when the banks were private. They are not our debts to pay."

In any case, even if there was co-responsibility and much of the shock was absorbed directly by the foreign banks and our own, it would soon reverberate throughout the greater part of society, though whether as severely is hard to tell.

Peter Kinane
Dundrum, Co Tipperary

Irish Independent