IRELAND CLEARLY needs further financial assistance on “non-market terms”, the chief economist with Citigroup, Willem Buiter, said during a visit to Dublin.
The former member of the monetary policy committee of the Bank of England said the most attractive option from Ireland’s point of view would be a reduction on the interest it pays on an outstanding €30 billion in promissory notes, issued mostly to deal with the collapse of Anglo Irish Bank.
OR we could ‘restructure sovereign debt’, he suggested.
OR we could ‘revoke the government guarantee on bank debt’, he posited.
OR we could ‘consolidate all our monthly outgoings into one easy, manageable payment’, he might at least have added for the laugh.