Why Ireland can't take the same road as Greece
Some may argue that Greece has done a better deal on its debt than Ireland, but that is a superficial notion, writes Donal Donovan.
Last week, there was final agreement, following many months of tortuous negotiations, on a second bailout for Greece. A key element involves a writedown of over 75 per cent of Greek government debt owed to the private sector. Under strong pressure, most private creditors agreed to take this very substantial hit.
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