That was the message I delivered on Irish television last night.

You can see it here.

The message is a blunt one: Ireland chose to not regulate. It is now living with the consequences of that. They are very, very uncomfortable.

I do blame the bankers. I do blame the accountants. But I blame the politicians too. The culture has to change. They created it.

Will it though?

It is the only way forward for what is, in effect, a bankrupt state. But how long will it take to appreciate that?