Sloop John B
And any old music will do…
I came across this in the Irish Times today from a usually believable journalist/ economist
The highlighted portion is
Most governments, including Ireland's,
have borrowed long term at fixed rates,
locking in the very low interest rates of th
last five years. Thus, if EU governments d
not borrow a lot more money, the limited
amount of debt that needs to be rolled ove
in the next few years at higher interest
rates will be eminently manageable. The
one exception is the UK, where more than
30 per cent of its national debt has interes:
rates linked to inflation. As a consequence
of rapidly rising price levels, its interest
payments next year will be a serious
burden.
Is this generally out there as it would seem a pretty major error on behalf of whoever is in control of borrowing?
.sjb
The highlighted portion is
Most governments, including Ireland's,
have borrowed long term at fixed rates,
locking in the very low interest rates of th
last five years. Thus, if EU governments d
not borrow a lot more money, the limited
amount of debt that needs to be rolled ove
in the next few years at higher interest
rates will be eminently manageable. The
one exception is the UK, where more than
30 per cent of its national debt has interes:
rates linked to inflation. As a consequence
of rapidly rising price levels, its interest
payments next year will be a serious
burden.
Is this generally out there as it would seem a pretty major error on behalf of whoever is in control of borrowing?
.sjb