herald

Thursday 8 December 2016

Editorial: Calls for debt relief continue

As Greece endured another day of crisis and uncertainty, Mr Kenny insisted that Ireland is a country that will not return to the boom and bust-type model of the past
As Greece endured another day of crisis and uncertainty, Mr Kenny insisted that Ireland is a country that will not return to the boom and bust-type model of the past

IF the referendum in Greece yesterday – and its result – was not enough to focus Irish minds on the issue of debt relief then the comments of former IMF chief economist Kenneth Rogoff surely were.

Mr Rogoff, a leading world economist, stated that Ireland should work to secure a debt write-down after the Greek crisis is resolved.

He also stated his belief that this country was pressurised into our bailout and that “the legacy of this situation should be rectified”.

Such a call is not new. In 2012 the IMF urged debt relief for Ireland but this never occurred.

Meanwhile any support this may have once had among senior Government figures appears to have fallen away over the past three years – with

Taoiseach Enda Kenny stating earlier this year that a debt write-down would risk stability and jobs.

But despite the Government line this issue of debt relief – like our gargantuan bank debt itself – is not going away, it seems.

Repairing the Wall

THE Great South Wall is one of Dublin’s iconic landmarks.

Some 220 years old, at the time of its construction it was the world’s longest harbour wall.

Since then the structure has ensured that shipping can safely enter Dublin Port, while at the same time providing a

recreational amenity for Dubliners, who walk its 4km length to avail of views of Dublin Bay.

But as a walking surface it’s not ideal and businessman Harry Crosbie is now campaigning to cover over the cracks to make it safer for

pedestrians.

The idea sounds sensible but opponents point out that such surfacing would impact on the historical nature of the wall and may also crack in

time.

Both sides’ arguments have their merits and a compromise solution should be found. The Wall is a wonderful amenity but it’s a piece of Dublin history too.

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