Conflicting camps divided over debt tactics in ‘war effort’
The ‘frugal’ nations, such as Germany, want to nationalise the cost of the war on the pandemic, forcing individual states to take on massive debt. Nine countries, including Ireland, want the creation of a ‘coronabond’ so the EU as a whole can shoulder the cost of the emergency. Who will prevail?
The ECB has learned the lessons of the euro crisis. Rather than perpetually wait for the European Council to make a non-decision, it acted swiftly. Last week it provided the legal basis for its new Pandemic Emergency Purchase Programme (PEPP). It clearly states that the ECB is committed to temporarily buying unlimited amounts of government debt.
The purpose of this bond buying programme is to bring down the cost of government borrowing. It is designed...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine
Aidan Regan: The dethroning of global tax sovereignty — and why it’s a good thing for Ireland
Governments will soon have the right to collect taxes on multinationals’ sales in their jurisdiction, even if that company has no physical presence in their country. This is a massive shift — and is ultimately positive for us
Personal grooming spend up seven-fold as social activities reach almost pre-Covid levels
Bank of Ireland debit card spending analysis released today reveals boom in spending across hairdressers, accommodation, retail and travel
Hope and high stakes: Can the economic recovery plan work?
With hotels and B&Bs trading again after a seemingly endless hiatus, the hope is that this has been the last of the lockdowns. But some have doubts over the government’s plan to get the country moving again
Aidan Regan: Public debt is not a moral failure, it is an investment in the future
The EU’s fiscal rules are not fit for purpose, and Europe must break out of the mindset of a balanced budget as the ultimate goal and utilise debt to its advantage