Time to make AIB an Irish citizens' bank

Paul Sweeney:  The Government strategy for privatising AIB has focused solely on the art of the deal – the price, how much to sell, and when to sell our 99 per cent. There has as yet been no discussion about what comes next, including control of Ireland’s second-largest bank; its future governance; the importance of credit to SMEs and individuals; or where the billions raised will be invested. These longer-term considerations are far more important than this short-term focus on the deal.

Recovery is not reform

Recovery is not reform. The government’s intended path to recovery is a mixture of borrowing, pay cuts, and spending cuts. All recovery plans treat the symptoms of a downturn. Global aggregate demand has been buoyed by injections of capital by governments. There is evidence the medicine is working. Global recovery looks in sight. Reform however, is a deeper, and more important, matter.

What kind of permanent changes to the international financial system do we want to see to reduce the likelihood of prolonged downturns in the future?

You can read the rest of Stephen Kinsella's piece in today's Sunday Independent here.