Yates demise is a portent of future woes

Banks are getting ready to chase every red cent owed to them by people across the country, while haemorrhaging funds in the process, writes Political Editor Pat Leahy

8th January, 2011
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The Irish banks have blown up the public finances and destroyed a chunk of the economy.

But the story isn’t over yet. The consequences of their behaviour for our politics are only beginning.

The political model – short-termist, electoral, pandering – perfected by Bertie Ahern and practised ruthlessly for a decade by Fianna Fáil was inherently flawed and contained the seeds of its own destruction.

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