Central Bank: A lackey for the political system

I see the Central Bank has, yet again, been caught out in a lie.

Earlier this week the bank announced that there was a fall in the numbers in mortgage arrears for the first time in years.

UCC economics lecturer Seamus Coffey has revealed that the Central Bank’s figures are useless as they fail to take into account mortgages that originated in this country but were sold by Bank of Scotland.

What’s going on here is as simple as it is dishonest.

The Central Bank is nothing but a lackey for the political system. It has no credibility as an independent, professional institution. Its principal mission, as always, seems to be to do the bidding of its political masters – at the expense of Irish citizens.

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