Saturday’s Irish Times quotes Eamon Ryan as saying that “Getting those bond spreads down” was essential to reduce the cost of interest rates and keep “money in the country”.

That is one bizarre statement.

The oft-quoted “bond spread” is the difference in the return that international investors expect to get for buying Irish government debt versus buying benchmark debt i.e. German Bunds.

How can getting the spread down keep money in the country? The only reason the spread is up at the moment is because the government is TRYING to keep money in the country and is being charged a higher price for it because of fear of Irish default.

And this guy is meant to be a senior minister? Ryanomics indeed!