Money from ECB/IMF/EU troika @ 5% is not a runner; interest bill on €80bn @ 5% is €4bn.
No can do – 10-year deflationary spiral beckons in that scenario.
Need to hold out for the 1.5% rate = €1,2bn interest p/a – thats more do-able.
The rate is key.
No can do – 10-year deflationary spiral beckons in that scenario.
Need to hold out for the 1.5% rate = €1,2bn interest p/a – thats more do-able.
The rate is key.
