Cheer Up, Ireland - We Could Be Greece

I was listening last week to RTÉ’s economics correspondent, Seán Whelan, analysing his own very interesting interview with one of our rulers, Joerg Asmussen, the German member of the executive board of the European Central Bank.

Whelan explained that the strategy of the powers-that-be in Ireland is not to tell the ECB that bank debts are crippling the economy. It is, rather, to suggest, in relation to easing the burden of the promissory notes, that “things are grand but if we had this as well they would be even grander.”