Neo Financial Solutions

Ireland Financially and Morally Bankrupt

So at long last the EU Commission and government is about to admit (again) that things are not getting better in Ireland (unless you are part of the political and professional elite who continue to rip our broken economy off). They are now admitting what we all have been experiencing for the past 5 years and will continue to experience while these fools are still in control of your country. And worse still is that they have revised their figures on growth 3 times in the past 6 months ….. all downwards! It seems that these people are clowns and just cannot do their job!

We still have falling property prices, falling income, no sign of urgent action on the household debt problems, refusal to address excessive pensions and salaries, increasing prices of utilities and anything else the government has its hands on!

Being the “good boy” in the Euro class has cost us dearly. It has robbed us of 4 years in the fight to overcome this Great Recession, cost us €64b in bank debt, given us unemployment approaching 20% and massive increase in immigration again!

We now need some simple but radical things to be done which include the immediate cutting of excess salaries and expenses of public servants to ensure nobody is paid in excess of €100,000, pass a law to have excessive pensions cut, a financial transaction tax should be introduced immediately, the utilities under control of government should be made reduce prices and immediate introduction of a debt forgiveness programme for anyone in negative equity! There a many more things to be done but these are starting points and targeted at the people at the top, those who are responsible for the mess and assistance for those who are suffering the most.

But I have no confidence in anything being done that will make things better and more fair! The main reason for this is that as long as the people in control and advising are the people who gain most from continuing to encourage the financial bankruptcy of the country we will be doomed to fail!

The people whom we have been brought up to trust and rely upon from priests to politicians to professionals have all slowly reduced this country to bankruptcy both morally and financially and it seems the majority of people seem to be happy to do nothing about it! I just wonder how long this will stay and when will people finally realise something needs to be done apart from talking about it?

Paul C Carroll Accountant
NEO Financial Solutions
paul.carroll@neofinancialsolutions.com