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Markets must have controls

I watched as many people relapsed into their old ways as they flocked into Dublin's Shelbourne Hotel and listened to live links from the auction room last Friday.

I believe in capitalism rather than the Cuban-type state ownership of assets that Ireland has taken. However, it seems to me stringent controls are needed.

It will be interesting to watch Dublin ministers protesting about such a move, arguing that the free market is best left alone.

PATRICK MURDOCK

Newry, Co Down

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