Madam, – Robert Pye’s interesting piece (Opinion, May 6th) regarding the role of the Department of Finance lacked coherence.
On the one hand, he states that his former employer failed to exercise our sovereignty in the national interest by preventing profligacy and failing to ensure Ireland saved during the boom for the inevitable rainy day. On the other hand, he accuses the “jackals” of the international banking system and the “well concealed elite who run Brussels” from denying us our sovereignty.
Which is it? The truth, it seems to me, is as follows; officials in the department took the course of action that their political, elected masters told them to take. That course of action bankrupted the country. Brussels, through the EU and the ECB, is providing us with vital funding. It does this because the financial markets will not lend our state funding at a rate we can afford.
These external institutions are making, and have made, mistakes – but this should not blind us to the essential truth that working with them is the best option currently open to our state.
Jackals? Yes. But too many of the jackals are of a distinctly Irish origin, I would suggest. – Yours, etc,