Government rolls the dice

Finance minister Brian Lenihan’s plan to cancel bond auctions planned for this autumn is a gamble which he can only win if the markets regain confidence in Ireland by January

2nd October, 2010
Government rolls the dice
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Brian Lenihan has rolled the dice.

Slowly but surely the price the government has had to pay to raise money on international markets has been pushed higher - last week it decided to cancel plans to raise further borrowings until January.

Meanwhile, our banks have already been squeezed out of the market, and have had to resort to the European Central Bank (ECB) to raise funds for their ongoing operations.

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