Originally Posted by darkman2
Sorry to burst the bubble but the average Irish person is partly to blame for this mess. That's a fact. No gun was put to the head of "average" Irish people that went mad on credit which was a darn large percentage of "average" Irish people. People choose to live beyond their means. Now they get the swing of it and must take responsibility for their failings in financial discipline.
The recession wasn't caused by the "average" person though. It was caused by failures and corruption at a much higher level in global financial institutions (including Ireland). The knock on effect in Ireland, uncovered a lot of flaws within Irish society, one of which was people living in houses etc, they couldn't afford. However, as was already mentioned this situation was orchestrated by the banks, who not only advised people to take out loans and buy property etc, but actually scared them into doing so. In the last three years of the boom the message coming out from the majority of government associated economists was " if you don't get on the property ladder now, you'll never be able to afford to get on it." The insane real estate rush in Ireland was great for politicians, banks, and builders, as brown envelopes were thrown around like confetti.Despite this, Enda Kenny (like his predecessors) has refused to take on the big boys who are truly responsible for the disaster, preferring instead to let average Joe take the brunt of blame and cost.
Of course Irish people should honour their debts, however, to blame them for what happened with the economy at best betrays a total lack of understanding of economic affairs, and at worst is a cowardly calculated act designed to divert attention.