IRISH ECONOMISTS made the case for floating the national debt to let the finance sector borrow according to the dictates of the market without choking up economic activity as it goes.
Private investors are currently allowed to borrow up to 40pc of a country’s GDP. In exchange they are expected to use the cash to invest in government bonds and property.
However, following eight years of near-zero interest rates, borrowers have not been willing to buy government debt – cde4edac5b
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