Monday November 30, 2020

We need to know the cost of sorting out the banks

Despite the international financial media’s positive reaction to the budget, Ireland’s heavy borrowing still causes anxiety

12th December, 2009

The bond markets have turned ugly in the last few weeks.

The Dubai default followed the revelation that Greece’s debt and deficit figures were unreliable, and the true situation faced by the incoming government considerably worse than had been assumed. Greece’s deficit is projected at 12.7 per cent of GDP next year and the debt ratio at 123 per cent.

The deficit for 2009 will be double what the previous administration had advised...

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