Saturday September 19, 2020

It’s now time to outline just how we will cut the deficit

As Keynes, noted, markets can stay irrational longer than you can stay solvent

25th September, 2010
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Last week a pretty awful one for Ireland in the bond market.

In secondary trading last Friday, ten-year bonds reached yields around 6.65,15year bonds around 6.90, before easing back a bit in later trading.

This is not sustainable, in the sense that the build-up of interest costs on future borrowing and on renewals of maturing debt would place too great an interest burden on future government revenue.

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