Finnish banking expert Peter Nyberg has revealed why Ireland’s economy has collapsed so spectacularly. His conclusion? The problem is, we’re Irish.
The dour Finn blamed the property bubble on “‘the extent to which large parts of Irish society were willing to let the good times roll.” He is stunned that nobody thought to warn the revelers of the impending hangover, calling the warnings of negative repercussions “modest and insufficient.” What, nobody called out, “time there now folks please” – and really meant it? Nobody listened?
He is shocked at the “relaxed attitude of the authorities” which he says was “the result of either a failure to understand the data or not being able to evaluate and analyse the implications correctly.” He in fact fails to understand that that this was more likely the result of the fatalistic optimism for which the Irish are long-renowned: “It’ll be grand, sure.”
He is aghast at “national speculative mania,” Never, presumably, having stood outside an Irish bookies during the Grand National. Never having met people who are perpetually “on to a sure thing,” he is also astonished at how the risks were “undetected or seriously misjudged.”
So, to summarise: The problem is that the Irish people were willing to party on regardless, heedless of the impending hangover. Those in charge were fierce relaxed. Nobody minded having the odd flutter. When drunk on money, nobody cared if they fell in to a ditch, they were having such a laugh.
In short, the problem was that throughout the boom, the people of Ireland behaved like Irish people. In slightly different circumstances, we like to think, those national traits can actually be quite endearing, and even useful. But to the Finn, they are inexplicable madness.
The full text of the Nyberg report is here.
And here are The Animals singing “Let the good times roll.” “Large section of Irish society” should enjoy this:
http://www.newswhip.ie/national-2/nyberg-report-the-economy-collapsed-because-the-people-of-ireland-are-irish-29696
Well AHers what do we this of this? Is Ireland now suffering a REALLY bad hangover (puking included). Can we be any other way???
I'm not too sure whether to find this an accurate portrayal or offensive paddy whackery!
