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How about the interest on the debt? Should we take that into account, too?

The brainless should not be in banking -- Willem Buiter
by Migeru (migeru at eurotrib dot com) on Sun Mar 21st, 2010 at 08:00:29 AM EST
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Right, but since the interest rate just went up for the first time in the latest deals in the last 2 months, we can assume that they had a much similar interest rate to Portugal and Spain prior to that. And this would mean that the budget reflects that lower interest rate. You're correct that future budget projections will naturally be worsened by much higher interest rates, but I just don't think it has been a factor looking backward.
by Upstate NY on Sun Mar 21st, 2010 at 11:00:00 AM EST
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