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Why can't we just default on our debt??

HavingCrack · 2010-11-21 18:44:53

I don't understand why Ireland doesn't just default on our debt. My udnerstanding of how bonds work is that you take a risk when you buy them, sometimes you make a gain and sometimes you make a loss. Why should Irish people bail out banks and private businesses that made a gamble on bonds and lost??

21-11-2010 6:44pm

#1

HavingCrack

Closed Accounts Posts: 2,847 ✭✭✭

Join Date: May 2010

Posts: 2784

I don't understand why Ireland doesn't just default on our debt. My udnerstanding of how bonds work is that you take a risk when you buy them, sometimes you make a gain and sometimes you make a loss. Why should Irish people bail out banks and private businesses that made a gamble on bonds and lost??

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