Skip to main content

Ireland's Economic Meltdown - Biggest Economic Crisis...

THE GOVERNMENT has no plan to deal with the biggest economic crisis in a quarter of a century and lacks the conviction to win public confidence, Fine Gael leader Enda Kenny told an opening session of a two-day special conference of his parliamentary party in Co Clare yesterday.

Warning that the next general election "may come a lot sooner than expected", he told his colleagues that if they were "united, disciplined and tough" they would win power in the next Dáil.

Focusing on the Government's approach to the economy, Mr Kenny said people were frightened because nobody seemed to be in charge.

"In response to the biggest economic crisis in a quarter century, the Government first denied, then dithered, then went on holidays."

He added: "All the Government seems to be able to do is congratulate itself - in advance - for tough actions they haven't yet taken, and they'd never have needed to take if they'd done their job well enough in the first place.

"They also do something else. They blame everything and everybody in the world for their problems. The economic meltdown is all the fault of external circumstances."

The No vote in the Lisbon Treaty referendum was the Government's latest excuse for our economic difficulties. "The blunt fact is that none of that is true."

Claiming that Ireland's economy was suffering "disproportionately", Mr Kenny asked: "Why are we doing so much worse than France or Spain or Singapore?"

The answer was that "the foundations of our economy were so skewed by the love-affair Fianna Fáil has with construction".

"Fine Gael consistently pointed to the lack of balance. We warned of its dangers."

That was what "honourable opposition" was all about: "telling the truth fearlessly. Saying it as it is. Sounding the warning klaxon and proposing corrective action. While we did all this, Fianna Fáil wilfully continued to drag this country towards disaster." He added: "There's a bleak consistency in Fianna Fáil's approach to vested interests. They face them down, back them up against a wall - and give them what they want.

"Other than wanting to pump the construction industry back to its old, unbalanced status, where is the plan? Where are the development ideas? There are no ideas."

Outlining the programme for the annual "think-in", he said: "This conference is about setting out what we as a party are going to achieve in the next 12 months.

"It's about laying down deadlines, details and deliverables. It's about practical planning - for power."

He added: "This Government doesn't have the conviction or the competence to win and hold the confidence of the public. The next general election may come a lot sooner than expected."This party has, therefore, got to have a sense of belief that it can win that election."

"That is my agenda. It's the frontbench's agenda. It's your agenda, and if we are united, disciplined and tough in its pursuit the next general election is ours to win."

Guest speakers at the different sessions of the conference, which are being held in private at a Co Clare hotel, include broadcaster George Hook, ESRI senior research officer Alan Barrett, Prof Richard Sinnott of UCD and US author and political analyst Prof Drew Westen.

Report DEÁGLAN DE BRÉADÚN - Irish Times

Popular posts from this blog

The State is about to create another housing bubble...

The Irish economy is set to repeat its old mistake of excess mortgage-lending... The run-up to Christmas is always a good time for burying bad news and this year was no different. On the Friday before Christmas, Bank of Ireland announced it was going to have to put more money aside to absorb possible losses on Irish residential mortgages. Just how much more money was not very clear but it would appear to run into several hundred million euro. The statement was extremely technical and did not actually talk about losses or defaults. But the point is clear. The bank had already put aside some money to absorb losses that might occur as a result of people not being able to pay their mortgages. It now seems that more people than expected are going to default and the bank has had to put some extra money aside. It is as timely a reminder as you could hope for that the Irish banks are still broken and still fighting their way through a mountain of problem mortgages as a result of their rec

Ireland's Celtic Tiger Excesses...

'Bang twins' may never get to run a business again... POST-boom Ireland is awash with cautionary tales of Celtic Tiger excesses, as a rattle around the carcasses of fallen property developers and entrepreneurs will show. Few can compete with the so-called Bang twins for youth, glamour and tasteful extravagance. Simon and Christian Stokes, the 35-year-old identical twins behind Bang Cafe and exclusive private members club, Residence, saw their entire business go bust with debts of €9m, €3m of which is owed to the tax man. The debt may be in the ha'penny place compared with the eye-watering billions owed by some of their former customers. But their fall has been arguably steeper and more damning than some of the country's richest tycoons. Last week, further humiliation was heaped on them with revelations that even as their businesses were going under, the twins spent €146,000 of company money in 18 months on designer shopping sprees, five star holidays and sumptu

Top property sales 2016 – who bought and sold...

The year saw a shift from D4 to D6 while the country market slowed on the previous year... DUBLIN... Dublin 6 dominated top-end sales this year and, in particular, Dartry. Whereas in other years coastal south Co Dublin and Shrewsbury and Ailesbury Roads have dominated, Dublin 6 and the area around Temple Road have become hot property. Top of the list was the purchase in May of Alston at 19 Temple Road for a whopping €10.225 million when former Paddy Power boss Patrick Kennedy traded up from his home on nearby Palmerston Road. In a quiet off-market deal, the Victorian property, on one acre, was sold by barrister Vincent Foley and his wife, Helen, who have lived there since the late 1980s. Around the corner at 5 Temple Gardens, €6.5 million exchanged hands when the detached redbrick house on a third of an acre owned by the late barrister and former attorney general, Rory Brady, sold in another off-market deal. Not long after Subiaco at 1 Temple Gardens sold for €5.85 million shortly a