Madam, – I am surprised to see the criticism that Minister for Transport Leo Varadkar has received from Cabinet colleagues regarding his statement that Ireland may not be able to return to the bond markets in 2012 (Front page, May 31st). As your Cantillon column notes (Finance, May 31st), he is merely stating what is self-evident given that the bond markets will not lend to Ireland today.
It is disappointing to see the Government considers that honesty is not the best policy in its communications strategy. Neither the electorate nor the financial markets are fools – if they can see the “elephant in the room” the Government would be ill-advised to pretend it does not exist. – Yours, etc,