- Jun 3, 2006
isn't one half of the point of political reform to take certain things out of the hands of government, has that happened or not in this case?Hmm. Let's have a look at a piece of regulation that is designed to prevent a repeat of Ireland's disastrous property bubble - the 20% deposit rule recently drawn up by the CBI. And let's look at the government's reaction to it...which was to oppose it.
Could the government have a vested interest in a property bubble? Why, yes, of course they could - oh, sure, they won't call it a bubble, won't even think its a bubble, it's sound fundamentals raising property prices to the benefit of mainstream property-owning voters. That's exactly what happened last time, of course, but this time it's different. Which, admittedly, is what they said last time too.