Desmond says Irish default may be required

Dermot Desmond, the third-richest Irishman, said the “government debt problem will be solved either by a default or hopefully controlled inflation.”

24th May, 2013
Dermot Desmond: default may be required

Dermot Desmond, the third-richest Irishman, said the “government debt problem will be solved either by a default or hopefully controlled inflation.”

Speaking at a event to Dublin, he said his greatest wish for Ireland is for constitutional reform to improve the way the country elects politicians.

In Ireland, the government forecasts its debt to peak this year at 123 per cent of gross domestic product, almost five times its 2007 level, before declining...

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