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#Ray MacSharry

# ray-macsharry - Friday 31 January, 2020

'We weren't riding on their coattails': What does it mean for Ireland now that the UK has left the EU?

The UK “might be leaving by the backdoor… but sure, they can always come round the front door and knock on it again.”

# ray-macsharry - Friday 27 December, 2013

'Ireland's Watergate': How the phone tapping scandal would lead to Haughey's downfall... eventually

What was the phone tapping scandal? takes a step back in time and examines what was arguably the biggest political scandal in Irish history that would have consequences far beyond 1983.

# ray-macsharry - Wednesday 31 July, 2013

The who’s who of the Mahon Tribunal

The longest-running inquiry in the history of the State has concluded its report – these were some of the names it focused on.

# ray-macsharry - Thursday 20 December, 2012

PTSB hits back after Shatter's criticism of 'out of touch' MacSharry

The bank has defended its attitude to the new personal insolvency law after Alan Shatter said comments by its public interest director and former Tánaiste Ray MacSharry were “seriously out of touch”.

# ray-macsharry - Sunday 4 December, 2011

In photos: Memorable Budget days of the past Budget 2012 This post contains images

In photos: Memorable Budget days of the past

Bruton’s VAT on children’s shoes, McCreevy’s decentralisation, Mac the Knife, ‘turning a corner’ – and plenty more.

# ray-macsharry - Wednesday 30 November, 2011

In full: what former ministers get after the government's new levy

We’ve gone through the list of ministerial pensions to see precisely how each living former minister is hit by the various levies.

# ray-macsharry - Wednesday 21 July, 2010

A POSTER ON THE NEW YORK TIMES website bearing the same name and location as former Finance Minister Ray MacSharry has come to the defence of Irish economic policy.

The comment was posted in reply to Paul Krugman’s diatribe against the economic policy and austerity measures recommended by the ESRI on Wednesday.

The Poster who goes by the name Ray MacSharry wrote: “There is little this country can do other then to trim spending, try and engineer an economy wide deflationary effect on wages and costs…and hope for a spill over of international stimulus to stimulate the recovery.”

MacSharry explained his comments, saying: “Paul, With no ability to control currency, with a rising debt to gdp ratio..with a very high unit labour cost, and with the crystalisation of proportionally massive banking losses and a crashed property market, the policy levers open to Ireland are few and far between.

“There is nothing the Irish government could spend money on that will boost the economy, so far the hammer has come down mostly on the spending side..hopefully the tax side will be spared and private economic activity might grow.”

Krugman, a Nobel Prize winner and columnist with the New York Times said the ESRI report was plucked “out of the thin air” and was designed to appeal to the “confidence fairy”.

MacSharry’s comments are an endorsement of the government’s plan to cut €3bn in spending from the 2011 budget.

The Journal was unable to contact the the former Finance minister at the time of writing. Ray MacSharry served as Tánaiste and finance minister in the 1980s. He also served as an EU Commissioner.