MOST economists have hailed last Thursday’s deal on the bank debt as a good one, and the best that could be achieved from the European Central Bank.
The fact that Ireland has to borrow 20 billion less over the next ten years can only be a beneficial development. Extending the repayment out to 35 years also makes it more manageable.
However, the country is still beset by massive private debt, and a very high level of unemployment.
The economic situation remains inherently challenging, to say the least. Still we are in a better situation this week, with at least a more positive outlook than we have had for some time.