Bad banks and bad maths

Ireland and the UK, united in ignorance?

Just as it says!Just as it says!
The financial trouble that "began in America", as Gordon Brown was always keen to remind us, still lumbers on. In this post the effects of the trouble were looked at and the proximity theory explained, well now there is more to consider. In one of the best articles of the weekend another theory is put up for scrutiny. This suggests that the UK and Ireland did not fully understand what was going on, 'wrong maths' was to blame. In the Celtic tiger post the relationship between the Irish and ourselves was dealt with and the main reason for the UK's lucky escape from the trouble facing Ireland was not being a member of the euro. Lumbering on indeed, as the crisis has been doing this for so long we have become accustomed to it, and also for so long that some serious analysis has been possible. Doing this has been Tim Bush, he trained as an accountant and is a regular writer on the academic end of accountancy.

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