Debt deal a confidence trick, but a welcome one

There was understandable relief when the troika changed the terms of our bailout repayment, but that doesn't mean we're out of the woods, writes Richard Curran.

13th April, 2013
`Freedom to borrow is not really freedom at all.'

The news last Friday that Ireland, and indeed Portugal, had got a seven-year extension on the repayment of a chunk of the troika bailout money was always going to be greeted positively. If even your most feared and dreaded money lender tells you that you don't have to pay him back as soon as you thought, it is good news.

But good news is also a relative thing. The extension of the repayments was beautifully...

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