‘No compelling case’ to invest in Ireland, says Pimco economist
Excessive expense, too much debt, and too few young people make Ireland a bad investment, according to Paul McCulley
There is no investment case for Ireland, according to Paul McCulley, the new chief economist at Pimco, the world’s largest bond trading firm with close to $2 trillion in assets.
Ireland is too expensive, has too much debt, and is losing too many young people for it to be attractive to foreign investors, said McCulley, who will be speaking on a number of panels next week at the four-day Kilkenomics festival.
“You can’t build...
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