The Dunphy Show today was most entertaining and informative. The guests were Dr Elaine Byrne lecturer at TCD, Damien Kiberd of the Sunday Times and Senator Feargal Quinn. Both Kiberd and Byrne made excellent contributions on the IMF/EU package et al and pointed out the weaknesses. Sadly Senator Quinn is completely out of touch with the implications of the IMF/EU rescue. As far as he is concerned the opposition must just remain quiet and play ball. He is in no way concerned with the onerous interest rates imposed on Ireland and the frightening implications for taxpayers. As a millionaire of course Feargal will not suffer too severely. Sadly he appears to have no concern for middle income and lower income groups.
He endeavoured to compare the current crisis with that of 1987. In this he is gravely mistaken. In 1987 Ireland had a fully functioning banking sector. Today we have a budget deficit problem and a banking crisis. In addition the cost of the banking crisis has been foisted on the taxpayer. The IMF/EU is calling the shots. The new government of whatever hue must renegotiate the IMF/EU deal. The conditions are much too severe.
Lower interest rates on the loans and a longer term to repay the loans will ensure that there is no default.
Feargal Quinn criticised ther number of teachers in the Dail. Here he has a point. However neither the Taoiseach, Minister for Finance, Minister for Justice or Minister for Social Welfare are teachers. Neither for that matter were Bertie Ahern or Charlie McCreevy. There are very few teachers on the FG front bench.