There’s been a good deal of comment lately that the Euro/European crisis is good for Ireland.
This is principally based on the view that the crisis will result in a reduction of Ireland’s interest rate.
This view, I think, is a bit like a steerage passenger on Titanic expressing delight on being upgraded to first class minutes after the iceberg changed everything.
There’s a definite benefit but it won’t last too long.
2 thoughts on “The iceberg effect”
A rate reduction will prove meaningless.
A debt write off is required. As is a faster balancing of the budget, whether increasing revenue or cutting spending.
Even if we got a reduction,i guess it will not be passed on to the taxpayer or badly needed services[no matter how small it is]
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