The Irish banking system collapsed on its arse this week, with a government bail-out of Anglo Irish Bank bringing the bill for the country’s stricken banks to £39bn. While our Celtic cousins nurse a budget deficit of 32% of GDP, let’s take some time to see what that paragon of financial sense George Osborne said about the Irish economic model:
“Ireland stands as a shining example of the art of the possible in long-term economic policymaking”
In a gushing article for The Times in 2006, Osborne asked “What has caused this Irish miracle, and how can we in Britain emulate it?”
Looks like Gideon is still trying his utmost in this regard.
Hat-tip: James Lyons