Thanks Brian Oliver, Colm Heaney, Enda Bolger and Nick Sutton
Covers to email@example.com
In a talk he gave to UCD’s Economics Society last week, Professor Morgan Kelly gave his thoughts on the Irish economy, his first public comments in three years. He had some grim possibilities in mind regarding SMEs and the dumbing down in Irish universities.
Here are some choice quotes:
“The crisis we’re told is over. What have we learned from that? The official narrative that has appeared is very clear. According to this, there were two bad people, Fingleton and Fitzpatrick.”
“This is Ireland, guys. We don’t do competence.”
“All the stuff that happened, all the stuff we talked about. The property boom and bust, the bank collapse, the state bankruptcy. As far as official Ireland is concerned, this was like a bad dream.”
“There’s going to be a big cleanup. It means foreclosures on mortgages and it means dealing with small business loans. What you had during the bubble, owners of SMEs [Small and Medium Enterprises] borrowed a lot to buy property. That was the way you made money back in the happy times. So a lot of these companies have got very big losses on property and they’re basically surviving through bank forbearance. Banks aren’t calling in these loans.”
“We’re going to see a lot of SMEs go under.”
“It’s an enormous problem that no one seems to care about.”
“But even if they [Germany] give us the money for the recapitalisation, the collateral damage to the Irish economy is going to be huge.”
“We are walking into exactly the same situation we were in before with loans to developers. We could see this coming from a long way off. It was going to be a big problem. But in the end Anglo goes under. There’s complete panic. There are midnight meetings. People do very stupid things and it looks like we’re going to face this once again.”
“By failing to produce well-trained graduates you are screwing up your economy in the long run.”
Remember that stained glass yoke on Sir John Rogerson’s Quay? Well there’s one just like it on the side of Milano’s chipper down the Bray seafront this week. Looks nice…
[From top: Brian O'Driscoll; Amy Huberman with daughter Sadie O'Driscoll; and Lansdowne Road Nua this afternoon]
“And Brian O’Driscoll leaves the pitch to a standing ovation. Incredible scenes at
the Aviva.Lansdowne Nua.”
Thanks Gavin Kilduff
Many have asked us about the availability of Tom Doyle’s ‘Thanks Be To Bod’ print (above) since it was featured here last week.
Sadly the prints chronicling Brian O’Driscoll’s career [A3 sized and costing €30] have all sold out.
BUT Tom has donated his LAST one to give away to a committed Brian O’Driscoll follower.
To enter, he would like YOU to complete this sentence.
My friend_______________ deserves this on their wall because____________________________
Lines close at
8.15pm 11.15pm Sunday 1am
“My own tribute to the posh lad who wears 13.”
In Leitrim this afternoon.
All rise for the national anthem.
And so to RTE Sports’ bonkers new
Six Nine Nations promo…
On approach to Chicago O’Hare International Airport last week, amateur photographer Mark Hersch took this once in a lifetime shot with his iPhone of the city skyline reflected in the waters of lake Michigan as the plane banked for a 180 degree left turn.
— Mark Hersch (@MHersch1) March 7, 2014