Tuesday 12 December 2017

Clinton: Ireland could be toast

BILL CLINTON says Ireland is "toast" unless Brian Lenihan can passionately convince ordinary people that the banking crisis is fixable.

The former US President -- whose team coined the phrase 'it's the economy, stupid' -- said: "I would say do what you have to do to preserve credit and stability because if you lose your financial system, you're toast."

He was speaking in Dublin after studying details of the Government's massive bailout plan for the banking system.

Mr Clinton said: "If you are going to ask people not only here but also in the United States to swallow difficult pills, that medicine has to be coupled with a strategy to get well.

"This is not the story that drove thousands of emigrants to the shores of the United States almost 200 years ago.

"This is a story of prosperity gone awry," he said.

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