Saturday 3 December 2016

Debt bonding

Published 10/01/2013 | 05:00

The news, heralded by some as good, that Ireland has raised €2.5bn in a bond issue is somewhat baffling.

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The reason I say it's baffling is because it also comes with the news that €7bn was available and at a rate lower than the terms of the bailout programme.

Considering that the country is being crippled by a higher rate, does it not make sense to take all that is offered and clear some of the debt at the higher rate?

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