Tuesday 17 October 2017

Brendan Keenan: Debt relief, not fiscal probity, is best way to restore confidence

TO everything there is a season, and a time to every purpose under heaven. The season for talking about debt relief, and engaging in the purpose of getting it, is upon us.

Most of the talking, though, was done out of season, quite some time ago. It was all the rage in the immediate aftermath of the crash. The talking -- sometimes shouting -- was largely irrelevant, since nothing could be done about debt at the time.

Commentators were right to point out what was coming. Government gross debt of €80bn when the crisis struck will reach €190bn next year. Government assets have more than halved from €36bn to €16bn.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Independent.ie Comments Facility

INM has taken the decision to remove the commenting facility on its online platform Independent.ie to minimise the legal risk to our business that arises from Ireland's draconian libel awards system.

We continue to look forward to receiving comments through direct email contact or via social media, some of which may still be featured on the website Independent.ie

Don't Miss