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Tue 07 Jul 2009In hock to lenders as we keep on gambling
Amid the clamour for cuts the €3bn given to the pension reserve black hole is baffling, writes FINTAN O'TOOLE.
IMAGINE YOU have a friend, let’s call her Cathleen Houlihan. She tells you she’s in terrible financial trouble, so bad that she can’t afford schoolbooks for her kids and is cutting out breakfast. She asks you to help her manage her money, and you notice that she’s still borrowing from the money lenders to maintain her gambling habit. Would you not advise her to stop wasting money at the bookies before she cuts out the essentials?
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