Sir, – The fact that the Central Bank had to recently write down the value of its new headquarters by €157 million barely a year after purchasing it for €230 million must cast into doubt the judgment of the bank when it comes to predicting any future trends in the Irish property market (“Office downturn hits Central Bank as campus building sheds €157 million in value”, Business, May 30th).
Surely this must be another case where the analogy of “the tailor with the hole in his trousers” is merited? – Yours, etc,
CHARLES SMYTH,
Kells,
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