Thursday, May 6, 2010

Time to crack open the 7-Up!

There was high praise indeed last week from the revered pages of the Financial Times for Brian Lenihan and the job of work he has to get Ireland out of the financial roller-caster we are on.

Despite our difficulties, the FT’s well-regarded Lex column said Lenihan has ‘led the way among ailing peripheral eurozone economies in taking harsh fiscal measures needed to regain investor confidence’.

“He set the example months ago that Athens should follow now, slashing public servants’ salaries and welfare payments.”

“Investors rewarded him - the yield spread over Bunds narrowed,” the Lex column reported.

While we certainly would not be advocating a champagne celebration for this rich praise, we will stretch to a can of 7-Up!

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