Oireachtas banking inquiry report

Sir, – When he wrote that "Ireland was broke from within", Arthur Beesley cut through the waffle that is all over the media day after day about the reasons for this country's ills ("Don't blame Frankfurt bogeyman Trichet for our ills", Analysis, January 29th.

That short sentence shows up the square miles of print and the hours of media talk blaming foreigners for what they are. There has been a failure to confront the reality that this country was not bankrupted by the ECB but by the boom-time decisions of a small number of its own most powerful citizens.

As a result, as Arthur Beesley points out, there was “a rise of some €160 billion in Ireland’s general government debt since 2006”.

Some €64 billion of that went to Ireland’s banks. But it took close to €100 billion to fund the budget deficit, ie to keep Ireland’s social welfare, health and education systems from collapsing.

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Admitting that may be humiliating but it is much less misleading than blaming foreigners. – Yours, etc,

A LEAVY,

Sutton, Dublin 13.

Sir, – A few pages, an editorial comment and a Martyn Turner cartoon just about sums up The Irish Times coverage and commentary on the banking inquiry report into one of the greatest debacles that has befallen this country.

This is no reflection on any inadequacy in the professionalism of how your paper goes about its business for our citizens, rather is it a sad reflection on the restricted, toothless and woefully unsatisfactory nature of the report in all its aspects.

In the closing lines of your editorial piece you state “The inquiry has helped us to understand a bit more” (“A study of imperfection”, January 28th). Your observation is no doubt correct but we have had enough of the “bit more” and its close political relation “the bit here and there”. Irish people deserve and are entitled to a lot more. – Yours, etc,

MICHAEL GANNON,

Kilkenny.

Sir, – It seems now that the hardest question the regulator put to the banks was “Where are we going to lunch?” – Yours, etc,

MARTIN SWORDS,

Ashford,

Co Wicklow.

Sir, – With the dismal scientists once again predicting a major global deflationary event, it might be time for people to bulk-buy tinfoil. It is amazing how much of the stuff you can go through when you start wrapping it around your head. – Yours, etc,

BRIAN AHERN,

Clonsilla,

Dublin 15.