Wednesday 22 November 2017

To default or not to default: that is the burning question

Do we cut our losses and burn unsecured bondholders -- or do we sacrifice ourselves for Europe, asks Daniel McConnell

Daniel McConnell

Daniel McConnell

CALLS for Ireland to default on at least a portion of its debt have intensified in recent weeks, culminating with the matter being discussed this weekend with the fine chaps from the IMF and the EU.

A growing consensus -- both at home and across the world now -- is of the opinion that Ireland cannot support the huge debt burden it has taken on, mainly because of the recklessness of negligent and greedy bankers.

Ergo, at least some of that debt must be reneged upon.

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