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Is Merkel saying we should accumulate more debt?

lightspeed · 2012-10-21 09:46:18

Ive just been reading on RTE about the whole banking deal on the Anglo promissory notes or at least the lack of any kind of a deal. From what Merkel and other high up sources are saying, The ESM fund can only be used for future debts so how is in Irelands interest to abide by the agreement set out by the troika and pay…

21-10-2012 10:46am

#1

lightspeed

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Ive just been reading on RTE about the whole banking deal on the Anglo promissory notes or at least the lack of any kind of a deal.
From what Merkel and other high up sources are saying, The ESM fund can only be used for future debts so how is in Irelands interest to abide by the agreement set out by the troika and pay back our current debts?

As if we dont pay our current debt,we will have more debt in the future but we wont have to pay for it as it will just come out of the ESM fund?

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