Current Affairs Economics Politics

From Bruton To Yates – Or How The Irish Do Business

John Bruton - 25 Years To Recovery?
John Bruton – 25 Years To Recovery?

I saw this delightful cover story from the Business and Finance magazine in my local (British-owned, British-stocked) shopping centre. John “F*****g Peace Process” Bruton, former Fine Gael leader and one-term Taoiseach, offering Ireland a 25 year journey to “anchor” it’s recovery. And it doesn’t get any better on the inside.

When Europeans scoff out the Romneys and Ryans of US politics they should perhaps look to their own elites for a political class that is just as distant from the genuine needs and experiences of the citizenry. Then again what should we expect from someone who was a career politician from the age of 22 and now acts as a political “advisor” and “consultant” to various business interests in Ireland and Europe?

Talking of which, another one-time Fine Gael politico and “expert” business commentator, Ivan Yates, who spent decades extolling the virtues of our wannabe Anglo-American free enterprise system and the bona fides of the Irish entrepreneurial (i.e. managerial) classes, has formerly declared bankruptcy – and his British residency! From the ever-watchful NAMA Wine Lake:

“On Friday last, 31st August 2012, well-known broadcaster and personality, the former Fine Gael minister Ivan Yates was declared bankrupt in Swansea County Court in Wales. This is the official record of his bankruptcy held by the UK’s Insolvency Service

Ivan is described as a “Retired Businessman and Author of Apartment 25 Meridian Wharf, Trawler Road, Swansea, SA1 1LB” – that’s his new address by the way, not some new book that you might have overlooked! 

The recent trend of financially-beleaguered Irish nationals having home addresses or dual homes addresses in Northern Ireland, England and elsewhere in the UK has not gone unnoticed. About 20 NAMA developers have already been declared bankrupt in the UK, though some of these would traditionally have been regarded as Northern Irish. 

What does seem socially unjust is that wealthier individuals who can relocate from Ireland to the UK and who can shoulder the dislocation for a couple of years, can take advantage of the UK’s far more lenient bankruptcy regime which does not allow any creditor to be your gatekeeper if you are insolvent, and generally allows the emergence from bankruptcy in 12 months.”

One law for them and another law for the rest of us?

Irish republican commentary from Ireland on national and international politics, history and culture. Ireland's Best Current Affairs and Politics Blog

%d bloggers like this: