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Many on the left will also argue they should have "burned the bondholders" in Irish banking debt, and perhaps they should have. But perhaps the low interest rates which are now enabling the relatively cheap re-financing and reduction of national debt are also, at least partly, because they didn't do so. The debt GDP ration is due to be down to c. 75% this year, down from 120% a few years ago - and NAMA has still to unwind some of the bad assets it accumulated. That's a pretty major reduction in a short period and puts Ireland in a significantly better position to face the headwinds of Brexit and Trump.
Is there another economy in Europe which can claim a similar recovery? I suspect the Greeks would be glad of it.
Index of Frank's Diaries
by Luis de Sousa - Sep 22 2 comments
by Oui - Sep 23 9 comments
by Frank Schnittger - Sep 10 5 comments
by Cat - Sep 14 14 comments
by gmoke - Sep 19 1 comment
by ARGeezer - Sep 7 40 comments
by Frank Schnittger - Sep 2 57 comments
by gmoke - Sep 24
by Oui - Sep 239 comments
by Luis de Sousa - Sep 222 comments
by gmoke - Sep 191 comment
by Cat - Sep 1414 comments
by Frank Schnittger - Sep 105 comments
by ARGeezer - Sep 740 comments
by Frank Schnittger - Sep 257 comments
by THE Twank - Aug 3110 comments
by Frank Schnittger - Aug 2757 comments
by Cat - Aug 2222 comments
by Cat - Aug 2225 comments
by Cat - Aug 185 comments