I& #39;m starting a thread to respond to some of the nonsense going around re the economy and the economic options available to Ireland

This is a sanity check because dear lord there are a lot of people who are scaremongering without any factual basis.

1/Who knows how many.
1. Ireland can& #39;t afford to borrow money.

Debt is only an issue if the cost is high or you can& #39;t repay the principle. Costs for Ireland are negative for all segments up to 10 years and are half a percent out to 30 years. As for the principal, states refinance all the time.
2. Ireland won& #39;t be able to refinance.

Unknowable but sovereign assets are nearly always in demand. Why? Because they are safe assets with long maturities. i.e they provide investors with a reliable outcome over a long period.
3. But we& #39;re being told not to borrow.

By who? The ECB and IMF are actively encouraging states to deficit spend and to borrow. The COVID crisis comes on top of a decade of under investment in the developed world; the solution is to invest for the long term in improving society.
For an example of 3. https://twitter.com/IMFNews/status/1315016752250728448?s=19">https://twitter.com/IMFNews/s...
4. States can& #39;t spend the money well

A decade of depreciation in public infrastructure has created the opportunities for the state to invest. Housing, healthcare, and infrastructure all need funding. The debate should be what is a good project not are there any good projects.
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