What we are doing is not only bad economics, it is a morally rotten way to behave. It is an amazing way for a country like Ireland to behave with all our traditions and values. If we persist in behaving that way, we cannot hope, as Europeans, to gain the influence and respect we seek in the rest of the world. From the viewpoint of those in the developing world, they see the two great powerhouses of wealth – the United States and Europe – lined up against them. Both powerhouses undermine the developing world by distorting food markets and subsidising farm production in their own areas. Of the two, however, Europe is by far the worst offender. Ireland should lead the way out of this policy that is both economically and morally bankrupt.