Unsurprisingly, as the vaccine flow quickens normal politics is flooding back. Notwithstanding delta and the latest delay, the fading of the pandemic is clarifying the fiscal battle ahead. Most pointedly so far, the Tánaiste is talking tax cuts while the opposition is pledging houses. Of course, all fiscal ambitions have limits. Fundamentally, we have never had monetary, or exchange rate freedom and we never will. Up to 1979, we were tied to a structurally declining Sterling. In 1970 stg1 bought over 11 Deutsche Marks. By September 1992, the UK was unable to maintain a rate of stg1 to 2.90 Deutsche…

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