Croke Park report

Fri, Jun 15, 2012, 01:00

Sir, – The total in savings from the Croke Park agreement, over years one and two, amounts to €1.5 billion, the agreement’s implementation body reports (Home News, June 14th). However, this figure apparently excludes the increase in pensions of €260 million, which is consigned to a table in a subsection of the report.

Such exaggerations are almost worthy of the Greek department of finance.

Even at that, they represent less than 10 per cent of the annual overspend. A further 90 per cent in overspending still has to be addressed, of which 85 per cent is salaries and pensions. Talk of “success” and “delivery” therefore seems also somewhat exaggerated.

What cannot be exaggerated however is the forbearance and blind faith of the ECB in loaning billions of euros to a government that could produce such a report. – Yours, etc,

CONOR FOLEY,

Rothe Terrace, Kilkenny.