Slí Eile: Just how much deflation and for how long must it be applied to (i) secure market confidence 'going forward' and (ii) reduce the fiscal deficit to 3% of GDP and (iii) restore consumer and investor confidence? Any clues from the past or the present? Empirical evidence welcome.
If €50bn in bank recapitalisation is less of a problem than an annual fiscal deficit of €22bn per annum (not that there would be any connection between the two don't you know) than is it any wonder that those who think and believe this have wantonly exposed Ireland to a level of debt transfer from private accounts to public accounts which threatens credit into the future.
Share:
![Duggan, Vic]](/assets/img/2017/04/1491994913319631_sq.jpg)