“Although Mr Cowen will not fight it, he has surely done for his party, whomever it scrambles to put in his place. The party that allowed bankers, builders and landlords to gamble away a nation’s prosperity deserves to be swept from power. But how much will truly change with the administration is unclear.
“This month Irish workers are noticing that their pay packets are lighter, thanks to December’s austerity budget. Few believe a change of political personnel will alter their personal circumstances. That scepticism is well-founded. Last night’s cross-party jockeying aimed to salvage the finance bill, and served as a reminder that – aside from the drawbridge economics of Sinn Féin – the electorate’s choice is between flavours of deflation.”
It’s not funny cos it’s true.
Full transcript here.
Previously: That Financial Times ‘Ireland’s Meltdown’ Editorial In Full