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    Ourland

    The return of the Irish economy is not an accident. The fact there were no riots when in collapsed in 2008 in a sea of imploded vested interests was no happenstance. The fact this country has divided power since its instigation between Fianna Fáil and Fine Gael wasn’t just luck. The repetition of the failures of the national spatial strategy in the National Planning Framework was predestined. The failure of any party to take on the rights of property and make them subject to the common good isn’t a random thing, it’s determined. This country isn’t Germany which went through industrialisation, Nazification and deNazification, and learnt that politics and the common good is a serious business. Nor are we like the US which takes itself so seriously that it can elect a politician on an America First platform, elect someone who’s utterly wrong about everything. Or the UK which tossed a reputation forged over a millennium for empirical pragmatism into the fires of Brexit because it had a serious gripe with Institutional Europe (and Johnny foreigner). Ireland lost half of its people in the famine five generations ago. There is a strong folk memory of apocalypse which imbues a national fear that workaday issues aren’t important, that politics doesn’t really matter, that anything good is transient, that there’s no point planting a tree, a flower. We also suffer from the residual malaise of the colonised. For 700 years decisions were taken not in the common good but in the interest of an alien political entity. Service for the government and its establishment was not service for the common good. This country is sceptical about the motivations of its politicians, and its politicians do not see their roles as ethical or principled. This can generate corruption. We also suffer from the overhang of over a millennium of pious religious adherence though arguably we are overcoming that fast, almost – though not quite – too fast. Ireland is not a serious country like Germany. Yes we’re big on the GDP that every country wants. Certainly, we can do capitalism if you ask us too, but it’s only because that’s a doctrine that depends on an independent competitive detachment. You don’t have to buy in to anything particular to practise capitalism. We’re good at giving international commerce and its IT companies and vulture funds what they want: from planning permissions to an utterly unethical system of corporate taxation. You never hear anyone in public life talk of morality or ethics, you rarely hear mention of the public interest or the common good. Or philosophy: we’re sort of middlebrow. It is taken for granted that the combined private interests of all somehow amounts to the public interest. It is assumed the needs of the present outweigh concerns for the future. We don’t have a language for ugliness even though we forge it everywhere. We don’t care about planning, we couldn’t give a fiddlers for the environment. We’re the worst climate-change offenders in Europe, one of the few EU countries to miss its 2020 emission reduction targets under the EU effort-sharing decision, the worst per person in Europe. We love to litter. We’ve filled the countryside with unsustainable houses, allowed Dublin to leapfrog into much of Leinster. We’re going continue doing it. It would be draconian to tell anyone they can’t actually build somewhere. Climate, the environment and planning are at the sharp edge of our psychological weaknesses. We understand when someone fleeces the public purse – sure we’d do it ourselves. Even the parties of the left can’t bring themselves to support a property tax. For that would impinge on “the family home”. Does Richard Boyd Barrett not realise that that phrase betrays a millennium of weakness? Strangely we never hear that other assets shouldn’t be taxed – that stocks and shares shouldn’t be taxed because they’re “the family portfolio” but mention the family home in Ireland and a ‘Land League’ and a host of people who don’t realise they’re not leftists will come running to your aid, in your home or in the courts, even if you’re looking to remain in a gilded mansion, even if you have three homes. Charlie Haughey, Bertie Ahern, Enda Kenny, have been replaced with shiny new faces – Leo, the Simons, Eoghan. These tyros may have had radical, progressive or interesting ideas before they got into politics but it’s not an accident that they get beaten out of them by the time they stand for election, for the party. They’ll toe the party line, not the thinktank line on everything from housing to the drugs crisis to healthcare. They bought into Fine Gael (it might as well have been Fianna Fáil) atavistically. Sit on a bus in England or the US and the quality of the conversation overheard (‘innit?’, ‘So I’m Like’) shocks and bores. Not here. You’ll never meet a complete moron in Ireland. The left may not yield a property-tax agenda but then again the right hasn’t managed to muster much of an anti-immigration or even privatisation agenda. Most Irish people have lots of common sense, a fairly global outlook, a sense of humour and a cultural hinterland of some sort. Ireland isn’t serious enough to keep its quality of life as high as that in countries where the common good is the transcendent driver. But then again it’s not serious enough to say no to gay marriage – sure everyone likes someone who’s gay. Or serious enough to elect a Fascist or a tub-thumper. Ireland is a peculiar place. It’s not the worst place. But its history holds it back, and will for generations to come.

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    DUPed

    Ireland and the EU have been outmanoeuvred by the UK into a deal that gives NI and perhaps ultimately the whole UK a competitive advantage trading into Ireland and the EU, by allowing a retreat for NI and the UK from EU environmental, social and other typically non-economic standards.

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    My Vision of the Future of the Green Party

    The Green movement was born when we looked back on our planet for the first time and realised the threat we posed to our own natural world. It was a child of the 1960s, embracing and promoting civil, racial, feminist, gay, and animal rights. It was into making love not war and thinking globally, while acting locally. The movement was inspired by Rachel Carson and her warnings that we faced a ‘Silent Spring’ if the use of pesticides and fertilisers by industrial agriculture went on unchecked. It came of age with ‘systems thinking’ from the Club of Rome in the early 1970s, which used the most advanced computers to look ahead 100 years and measure our future use of resources – and came back with the rational conclusion that there are real limits to growth on this finite planet of ours. Green economics is not easily categorised on a left/right ideological divide. It assumes that future progress must be made in terms of the things that really count rather than the things that are merely countable. It values our quality of life rather than just increases in the quantity of goods that are consumed. The movement found political form in the late 1970s and early 1980s as Green parties were set up in just about every country. In Ireland the Ecology Party of Ireland was formed at a meeting in Dublin’s Central Hotel in 1981. The founding principles were agreed at a second meeting a few months later in the Glencree Peace and Reconciliation centre. Those principles are still relevant today. • We have the responsibility to pass the Earth on to our successors in a fit and healthy state. • Unrestricted economic growth must be replaced by an ecologically and socially regulated economy. • Decisions should as far as possible be on the basis of consensus and respect for the rights of minorities. • Society should be guided by self-reliance and cooperation at all levels. • The need for world peace and justice overrides national and commercial interests. • There is no place for violence or threat of violence in the democratic political process. The fortunes of the party have ebbed and flowed over the last three decades in tandem with varying levels of public support for the wider environmental agenda. The first Green Party councillor was elected in Killarney at the same time the Bruntland commission defined sustainable development – as meeting the needs of the present without compromising the ability of future generations to meet their own needs. Our first TD was elected in 1991, just before the signing of the Rio declaration, which combined commitments to protect our environment with ambitions to address global poverty. The tide then ebbed during the boom years of the late nineties as oil became cheap again. We were told we were at the end of history and all public services had to do was clear the path so markets could pave the way. Our Dáil representation grew with the greater understanding of the scale and importance of this climate issue. We entered Government in 2007 determined to do what we could to position Ireland as a leader in responding to the challenge we all face. We learnt a lot in the process and it was not all negative. First of all, it imbued us with a healthy dose of humility. The last thing anyone wants is public representatives who think they know it all. We also learnt how you can get things done in Government. It requires showing respect to both colleagues and officials so you earn their trust, while still sticking up for your convictions and asking the right awkward questions, so that big ideas can be progressed and that decisions do not go through on the nod. I stand up for Green politics because I have seen how we have made a real difference over the years. In the last four decades road deaths have fallen by two thirds. We can’t claim responsibility for that outcome but we were there every step of the way supporting better road designs and new safety regulations. We also changed waste policy. I remember a Council engineer arguing against the introduction of green and brown bins in Dublin, on the grounds that Irish people would never take to recycling. I like the fact that we all proved him wrong. Similarly, I look at the way my German Green colleagues changed the course of history by initiating a clean renewable-energy revolution that will not now be stopped. I am equally happy we were there at Pride Parade long before most other parties or big corporations showed up for the day. Last but not least, I like the fact that we are an all-island party, which gets to canvass on both the Shankill and the Falls. That non sectarian outlook comes from our 1960s roots. We may not be the biggest party but we are friends with every other European Green Party and are based in every county here at home. We now have two great teams back in the Oireachtas and Stormont. We are disciplined and motivated with a new ambition to become a mainstream political choice for people right across this island. In the North the first job is to get the Assembly back in action. In the South we want to triple our representation in the next Dáil and perhaps more importantly triple the number of Green Party Councillors who are elected at the next local elections in 2019. We are setting ourselves such goals because in truth we are losing on the big battles which inspired us into action in the first place. For all the achievements I have mentioned, the reality is that the world has lost almost half of all wildlife over the last forty years. In the same geological blink of an eye, we’ve seen the concentration of carbon dioxide in the atmosphere increase by a third. For the first time in years, the global number

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    More On Moran/Nomura

    One of the intriguing characters in the story of ‘NAMA-land’, the title of the book I have written which has just been published by Gill Books, is the former general secretary of the Department of Finance, John Moran. The Limerick man was appointed to the second most senior position in the Irish civil service by then finance minister and fellow County Limerick man, Michael Noonan in May 2012. His appointment was welcomed at the time as a breath of fresh air, given that he had only joined the department a couple of years earlier. It was widely reported that his most recent business experience was in running a juice bar in the Languedoc region of France, where he was also renovating an old property. Not so well reported at the time were questions raised in the Dáil by Sinn Féin spokesman, Pearse Doherty, about Moran’s time with Swiss insurance company, Zurich Capital Markets (ZCM), where he was US-based chief executive from 1997 to 2005. As Doherty pointed out, ZCM was fined $16m, in May 2007, by the US Securities and Exchange Commission (SEC) after it found that the insurance company had “provided financing, aided and abetted four hedge funds that were carrying out schemes to defraud mutual funds that prohibited market timing” and “employed various deceptive tactics to invest in mutual funds”. ZCM was an affiliate of Zurich Global Investments LLC and an indirect subsidiary of Zurich Financial Services, the Swiss holding company. Not much notice was paid to Doherty’s remarks following the somewhat surprise appointment of Moran, except that the deputy was expelled from the Dáil for what the then ceann comhairle, Sean Barrett, described as “attempted character assassination”. After settling in to his new position, Moran was an enthusiastic supporter, with Noonan, of the rapid disposal of NAMA assets and in encouraging global or ‘vulture’ investment funds in their acquisition from 2013. As has since been revealed, he met with a number of the funds which arrived in Ireland since then and purchased huge bundles of heavily discounted, distressed assets from NAMA, only to flip them within months, for much higher margins than achieved by the agency. He was involved in designing some of the tax-efficient incentives which Noonan introduced during his term as finance minister, some of which are under scrutiny again, following the most recent revelations on tax avoidance in the Paradise Papers involving Apple and other multi-nationals. In February 2013, Moran told the REIT Forum conference in Dublin, a gathering of 500 property investors, owners and auctioneers, of his “ambitions to make Ireland a base for international REITS (real estate investment trusts) in much the same way as Dublin is now an international centre for aircraft leasing”. Among those who spoke at the conference was the then head of asset recovery at NAMA, John Mulcahy, who left the agency later that year to join one of Ireland’s leading commercial property investors, IPUT. Another former NAMA executive, Kevin Nowlan, whose father Bill had helped devise the REIT legislation introduced by the then government, went on to form Hibernia REIT in October 2013, less than a year after leaving the agency. Hibernia is now one of the country’s leading purchasers of commercial properties in Dublin, including some previously on the distressed loan books controlled by NAMA. Last year, Moran was reported in Village as saying that he could not recall whether he attended a meeting between Noonan and senior Cerberus representatives, including former US treasury secretary, John Snow, in late March 2014. The meeting took place on the day before the final tenders were submitted to NAMA for the agency’s entire Northern Ireland loan book, known as Project Eagle. Noonan was criticised in a report by the Public Accounts Committee of the Oireachtas earlier this year for his participation at the meeting which was described as “not procedurally appropriate”. In fact, the records and minutes since released and naming those finance department officials attending the meeting do not include Moran. Within weeks, Cerberus emerged as the successful bidder and paid £1.2bn (€1.6 bn) for the portfolio. Some £730m, or almost two-thirds of the monies paid by Cerberus through its subsidiary, Promontoria Eagle, for Project Eagle was lent by Nomura, a Japanese Bank. After just two years as secretary general with the department, Moran retired from the position in May 2014. In November 2015, Nomura announced that Moran had been appointed as an advisor to the bank. He lobbied Noonan and finance department officials on behalf of Nomura during 2016. There is nothing illicit, improper or unsurprising about any senior civil servant going on to provide consultancy and other expertise to local and international companies following retirement. Nevertheless, it is fascinating to follow the global web of networking in the world of high finance.   John Moran

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