Irish budget cuts: Not speculation, or existentialism but hard-nosed finance

Lot’s of really interesting snippets in the Sunday Business Post. Two struck me as worth noting. The first notes that after a narrowing of the interest rates on the bond market, Ireland’s rate of borrowing is getting more expensive again. By Friday evening, ten year Irish bond interest rates were trading at about 4.7%, about 2% above that of German debt and above that of Portugal. The second (and I suspect it’s not entirely unrelated) is the news that the …

Read more…