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Peter Mathews – the Good Banker

When the history of this period will be written, the established commentators even the ones who saw this crisis coming, will not score as highly as the insider banker Peter Mathews.  Peter was impelled to leave his content and private life behind to doorstep politicians and demand that his voice of considerable experience of similar  if smaller crisis, be heard.  For his pains he was ridiculed by many commentators, occasionally even under Dail privilege.  Two years later after the worst as come to pass as he predicted, he is quoted on national TV and gets space in the serious press.  But until Peter is invited into the backroom deliberations of the political parties, he has not got his due respect.   Here is an excerpt of his article in the Irish Times.

THE GOVERNMENT has signed us up to a bad deal. The European Union and the European Central Bank (ECB) have stitched us up. The taxpayer is now being forced to repay money to the European banking system as well as the Irish banking system because of policies implemented by the Government, by people who frankly don’t know what they were about and haven’t the wit to learn from those who do, even when it’s clearly and comprehensively explained to them.

We have been used by a European banking system that was flush with cash and needed someone to lend to. It operated recklessly and with dereliction of a duty of care. The EU banking elite, the European Commission and the ECB don’t care what damage they do to our country. They just want their money back at any cost. There is no European solidarity here. That too is an illusion of our deluded politicians and officials. We needed a strong negotiating team with the will and the nerve to say “No! Here’s what the people of Ireland need. This is what we will accept.”

We needed tough negotiators prepared to withstand the pressures that were brought to bear on them, because they understood what they were about and knew it was right. We needed our best politicians to back this team.

This Government had no right to agree to the deal the Taoiseach announced on Sunday night. This Government has failed us. It should be removed immediately, without delay. (link to full article)

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