Key to Irish economic future is willingness of the bond market to fund the deficit

[hiding behind a poster]

The government seems to be hoping that it isn't,since its €2 billion in cuts for this year is only a small start on the €20 billion in cuts that are needed to balance the budget.

We don't need to balance the budget, and you know it. Many governments are running deficits to stimulate their economies, and its arguable that much of our 8bn capital spend this year comes into that category. Insisting on a balanced budget in the present circumstances would be excessively deflationary.

[Dreaded_Estate]

We don't need to balance the budget, and you know it. Many governments are running deficits to stimulate their economies, and its arguable that much of our 8bn capital spend this year comes into that category. Insisting on a balanced budget in the present circumstances would be excessively deflationary.

Agree other countries are running deficits but nobody is running the deficits the size of the Irish ones.
The next nearest in Europe is Spain with 5.8% while we are going to be well above 10%

[YellowRedGreen]

I will repeat my question. Why has our exchequer borrowing requirement for 2009 gone up by 5bn in less than 2 months?

[atlantic]

Less taxes ,vat ,prsi,income tax, stamp duty excise etc,, rate of umemployment rocketing,no real cutbacks in Government spending,more going out than coming in.

I will repeat my question. Why has our exchequer borrowing requirement for 2009 gone up by 5bn in less than 2 months?