Madam, – The comments by Niall Fitzgerald on corporate culture in Ireland were extremely refreshing (Front page and Weekend Review, March 6th). They should be made mandatory reading for all aspiring business and political figures. The present economic difficulty this country is experiencing is a direct consequence of an unhealthy relationship between big business and the political establishment.
The bank crisis results primarily from an overindulgence on the part of Government towards elements in the business community, especially bankers and developers. Our elected officials simply let business get on with it and damned those who would seek to interfere in any way. This gave certain elements within the business sector a feeling of invincibility and being immune from any real accountability. Pride came before a fall and the public was left unfairly to pick up the pieces.
Senior politicians should give individual business figures a wide berth and likewise business people should stick to seeking a level playing field where the crony capitalism of Ireland’s recent corporate culture is relegated to a shoddy page of our history.
Business has legitimate points to make in relation to the running of the country and these should be made through representative organisations such as the Construction Industry Federation and Ibec.
If this cosy relationship can be broken and business feels that there are no golden circles, then there will be less need to appoint insiders, with special relationships to politicians, to company boardrooms. Then we may get an infusion of fresh talent who can contribute to enhancing the economic performance of our major companies. – Yours, etc,