Ronan Lyons | Personal Website
Ronan Lyons | Personal Website

Irish debt

The MC Hammer approach: Ireland’s new Programme for Government

This post reviews the Programme for Government agreed by Ireland’s new coalition partners, across three headings. The first is the urgent problem of Ireland’s debt burden, the second is the more medium-term issue of the deficit, while the final heading covers the long-term issues of mortgage arrears and unemployment. While there are many things to be welcomed in the new Programme for Government, on these headings at least, there is an alarming lack of coherence and detail. Read more

The Irish Bank Sandwich: Time for the EU to face up to reality

This post looks at the case for allowing the international bondholders of Irish banks to get away scot-free from their responsibilities as lenders and finds it wanting. It outlines the two great excuses that have emerged since the “Great Financial Crisis”, one by borrowers and the other by lenders. Neither rings true in the case of Ireland, a microcosm of the global finance environment over the past ten years. Irish banks stand in the middle of a sandwich between Irish households and international bondholders. Each must pay their price, including bondholders. Read more