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...

Subscribe from just €1 for the first month!


What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago