IN 2014, there’s really just one issue worth voting on. And it has escaped the government’s
notice. It’s not penalty points. It’s not fat-cat “charity” salaries. It’s not the
transparency — or the lack of it — in Enda Kenny’s New Dawn government.
Those are all vital issues. But they won’t decide the life and death of the country.
Here’s what will: YOUR JOB. OR RATHER, LOSING YOUR JOB LATER THIS YEAR.
How might that happen? And why? And can the government do anything to stop it? Yes
they can — but you’ll have to tell those FG and Labour canvassers at your door to
pass the message on to Kenny and Gilmore: Get going on struggling businesses — now!
We take no credit for spotting the tsunami of loss, grief and suffering that’s set
to hit us all soon after the voting booths close on May 23. A more brilliant mind
than ours did that: Professor Morgan Kelly, the Bertie-ridiculed 2007 prophet of
the 2008 property collapse.
Never mind “extend and pretend”, turning loans into long-term millstones. And never
mind old-boy-network deals, where ex-Gonzaga and Clongowes rugger-buggers forgive
each other’s debts at the taxpayers’ expense.
Small business loan forgiveness must be open, transparent and accountable, he insists.
But it must be US-style: wholesale, massive and ambitious. Parking debts for five
years will work in most cases. Writing them off will help in others. Do both. Do
Kelly has spoken and, bafflingly, Finance Minister Michael Noonan is listening but
the Central Bank is not. They see no problem. That counts as proof that there is
So say it at the doorstep and with your vote: “Professor Kelly is right. Save my
“Park and forgive small business debts — or we won’t forgive you.”
• See also the front page story in this week’s printed edition of Local News West
Professor Kelly has proof that thousands — millions — of Irish jobs could be lost
when Mario Draghi shakes out the loan-books of Irish banks this autumn.
To understand his prophecy in detail, watch his UCD lecture by clicking here. But
in summary, here’s what the Professor sees:
• thousands of crucial small Irish employers with business and property loans
• those loans being called in — and Irish businesses going bust — when the EU’s
autumn stress test turns out to be real and serious. (Many imagine, wrongly,
that it will be a walk in the park.)
Professor Kelly says: Park some small business debts for 5 years. Forgive others.
WHO CREATES jobs here? Not Microsoft . Not Google. 98% of you work for your local
hair-dresser, a small shop or that tiny factory up the road. SMEs matter. But they
don’t serve free drinks to journalists — and they’re not on the government’s radar.
Thousands of them are about to go bust. You can help
• STUNNING Kellie Breen, featured recently in the south edition of the paper, has
found a new photographer and a new mood in her stunning collection of portfolio pictures.
And already, these beautiful bromides have bought the Ballyfermot lass catalogue
and catwalk work.
Now, however, she wants to raise her profile with a “face of” campaign. And we reckon
she’s just the lady to raise an Irish product profile...and a male heartbeat.
We’ll be keeping an eye on her progress...
SAVE OUR SMEs
THE CENTRAL BANK sneered at this editorial when we ran it in March. Now, thanks to
a Danske Bank selloff of IOUs, the American vultures are here and your local shops
are being sold off for pennies on the dollar. Read the incredible story in this week’s