The article ‘The Celtic Tiger is back’ by John Cassar White (December 10) should be studied by all our politicians.

Malta and Ireland always had great affinities. The present economic situation and the government politicians’ euphoria and self-aggrandisement in both countries is unprecedented. Both governments believe they are so very clever and all powerful they can do no wrong. In any case, they can do whatever they want and once the economy - the GDP - is growing and the business people are raking in the money they can get away with anything.

The virtue of prudence is thrown to the wind.

The property craze that brought Ireland to its knees in 2006/2008 is back. Rents, both residential and commercial, are skyrocketing. Result: 10,000 homeless in Ireland and a similarly substantial number in Malta. Those caught in the poverty trap are forgotten.

Exuberance and extrovert flaunting of money is evident everywhere in both countries. Result: gridlock in Dublin and all over Malta.

Both economies are dependent on imported labour and are creating more and more pressure on the pro-perty market.

Both governments have chosen to ignore environmental considerations and earlier commitments to fight climate change in the interest of those who are making hay while the sun shines.

In the end, reality often deflates political rhetoric when prudent management of the economy is shunned.