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Late Debate RTE1- prime Time

  • 11-02-2011 7:30am
    #1
    femur61
    Registered Users, Registered Users 2 Posts: 1,588 ✭✭✭


    Did anyone see this, it is scarey as all the experts say default, we can't sustain this level of debt.


Comments

  • #2
    nesf
    Registered Users, Registered Users 2 Posts: 27,644 ✭✭✭✭nesf


    There's some argument by serious international analysts that Ireland and other bailed out EU countries may need to restructure their sovereign debt to get through this. This would mean lenders to Ireland for sovereign debt would take a haircut. Such a move would be major and have EU wide implications for bond lending for decades to come.

    Anything like that will be an EU wide thing though and won't be unilaterally something we do. The groundwork for such a possibility are being laid out in the EU at the moment, doesn't mean it necessarily will happen but the EU seems to be at least contemplating the possibility.


  • #3
    Dannyboy83
    Registered Users, Registered Users 2 Posts: 4,236 ✭✭✭Dannyboy83


    Didn't see it, but on the subject:
    http://www.independent.ie/business/european/ecb-steps-in-to-calm-markets-as-portuguese-bonds-hit-record-high-2535727.html
    ECB steps in to calm markets as Portuguese bonds hit record high

    It will be interesting to see what rate Portugal gets.
    If they get a good enough rate, it may just save our CRT as we'll have something to fight with.

    At this rate, I'm guessing there has to be restructuring of some sort - can't be too long until Spain goes next.


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