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4.0 out of 5 stars WHAT? HOW? WHAT NOW?, 4 Oct. 2012
DOPPLEGANGER (TEDDY B) - See all my reviews
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This review is from: Celtic Meltdown: Why Ireland is Broke and How We Can Fix it (Paperback)
The author of "Celtic Meltdown" Cearbhall O Dalaigh does a very able job at recounting why Ireland went broke in 2008, the events leading up to it, and how can it be fixed. This is not a typical economists jargon packed, graph and figure strewn studious work - it is an interesting and easy to read work that is ideal for those wanting to attain a good understanding of the death knell of the Celtic Tiger and the way forward, without wishing to become an erudite academic.

The book clearly illustrates the almost total inability of the senior politicians, civil servants, regulators and plethora of so called professional economic experts, to understand what was happening to the Irish economy (although it was staring them in the face,) and certainly not the slightest idea whatsoever what should be done other than recklessly throw the taxpayers money at it like a drunk with somebody else's money at 'Happy Hour'. And the reward for being economically and commercially thick was in the Taoiseach Brian Cowen's case, a salary far higher than that of Barack Obama and Angela Merkel! Talk about the gravy train.

In his conclusions the author puts forward a number of sound suggestions covering a contraction in Public Employees and politicians wages, a radical look at reducing the heavy future impact of public employees pensions, a strengthening of regulations applying to banks particularly with regard to quality of lending and 'fat-cat' salaries, and a Financial Regulator which is competent, knows what it is doing and backed by the full force of legislation both civil and criminal.

A good read.
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Celtic Meltdown: Why Ireland is Broke and How We Can Fix it
Celtic Meltdown: Why Ireland is Broke and How We Can Fix it by Cearbhall O Dalaigh (Paperback - 1 July 2009)
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