The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
The Irish central bank and Ireland in general did not really regulate its own banks. Your theory that that was somehow the responsibility of other regulators to regulate Irish banks let's your neoliberal irish friends of thew hook.
I grant you that the Irish Central Bank failed to regulate its banks. Most likely regulatory capture. But there are two sides to every loan. When the Irish real estate bubble popped there were lots of foreign banks that were owed money. These banks also had an obligation to perform due diligence when making the loan. That they did is laughable. So they and their regulators also bear responsibility. But, especially in Germany, the attitude is that this is all the fault of a bunch of irresponsible banks in peripheral countries - the German version of evil foreigners.
I advocate a fair sharing of responsibility where each party takes a haircut. You advocate having only the evil foreigners take the haircut. Granted my position is unhelpful to German, British and other creditors and their agents in the guise of the ECB and BOE. Were all oxen to be gored perhaps there would be an incentive to construct a fairer and more balanced system that serves the purposes of more than just the elites in Germany.
As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer - Dec 15 45 comments
by das monde - Dec 14 17 comments
by DoDo - Dec 18 1 comment
by LEP - Dec 9 26 comments
by gmoke - Dec 17
by Democrats Ramshield - Dec 16 1 comment
by gmoke - Dec 2 7 comments
by ARGeezer - Dec 8 16 comments
by DoDo - Dec 181 comment
by gmoke - Dec 17
by ReGiNuss - Dec 171 comment
by Democrats Ramshield - Dec 161 comment
by ARGeezer - Dec 1545 comments
by das monde - Dec 1417 comments
by LEP - Dec 926 comments
by ARGeezer - Dec 816 comments
by gmoke - Dec 72 comments
by rz - Dec 415 comments
by gmoke - Dec 27 comments
by A swedish kind of death - Dec 233 comments
by rz - Nov 3071 comments
by Migeru - Nov 2959 comments
by ARGeezer - Nov 242 comments
by Cyrille - Nov 247 comments
by ARGeezer - Nov 20
by gmoke - Nov 1916 comments