A few weeks ago we published an article quoting Fine Gael leader, Tánaiste and Minister for Business Leo Varadkar claim on the RTE Claire Byrne show that our National debt will not have to be repaid.
This week we have an update from Mr Varadkar. In an interview with The Irish Times, Mr Varadkar said he “fears” the impact of inflation on the Irish economy, especially if it pushes up the cost of borrowing.
“It’s been so long since we’ve experienced it that we are overdue. We need to prepare for this possibility and interest rates going up as a consequence. I don’t think enough economists are talking about this. With so much quantitative easing, Government borrowing and low interest rates for so long, it has to be on our risk register,” he said.
Meanwhile Aontu says he Governments management of the Covid-19 pandemic and State borrowing has been likened to a “well oiled fella at a party at 5am completely oblivious to the raging hangover that awaits in a few hours”. They predict our National debt will top €270 BILLION in 2025 with Government mismanagement of covid costing €70 Billion.
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