Monday, 22 November 2010

Bankrupt Ireland to get £7 billion after Osborne said their economy is an example we should follow

In 2006 after visiting Ireland Osborne said;
'A generation ago, the very idea that a British politician would go to Ireland to see how to run an economy would have been laughable. The Irish Republic was seen as Britain’s poor and troubled country cousin, a rural backwater on the edge of Europe. Today things are different. Ireland stands as a shining example of the art of the possible in long-term economic policymaking, and that is why I am in Dublin: to listen and to learn.'
His summary then shows a complete lack of foresight:
'The new global economy poses real long-term challenges to Britain, but also real opportunities for us to prosper and succeed. In Ireland they understand this.
They have freed their markets, developed the skills of their workforce, encouraged enterprise and innovation and created a dynamic economy. They have much to teach us, if only we are willing to learn.
What is a further travesty is that much of this bail out is to further prop up banks like RBS which are failing to bail out small businesses here
in the UK.