Analysis > debt

The Governor writes…

You wouldn’t expect the Governor of the Central Bank to recommend the Government does something wacky in the Budget, and in his pre-budget letter to the Minister for Finance, the governor doesn’t disappoint. His key recommendations are, firstly a long-term need to reduce debt well below the 60% limit set by the Maastricht Treaty and, secondly any budget-day help for first time buyers should not make things worse. The Governor would like to see long-term budgetary targets that can “act …

IMF’s the Good, the Bad and the Ugly

By Economics Correspondent Sean Whelan @seanwhelanRTE “Assuredly it does not pay to be good”, said economist John Maynard Keynes. The economist was writing about Britain’s efforts to deal with the high level of debt it had built up after the first World War (140% of GDP). The IMF have pulled out this quote as part of a review of how a number of advanced economies coped with debt ratios above 100% over the past 100 years – and they agree with …

Clarity on Ireland and debt, but confusion in the eurozone remains

  By Paul Cunningham, Europe Correspondent After nine hours of talks by eurozone finance ministers, the Irish Government now knows both the process for the renegotiation of its banking debt and the target date for a decision. A statement after the Eurogroup meeting said that officials from the European Commission, European Central Bank and International Monetary Fund – or troika – would examine “technical solutions to improve the sustainability of the well-performing [Irish] adjustment programme.” The outcome of those negotiations …