The exchequer returns this week presented a grim picture of the public finances a year into the pandemic. In recent weeks, the bond markets have semaphored that their appetite for public debt is not endless, sending interest rates upward and spooking investors. In The Irish Times, Chris Johns observed, “Bond markets are signalling trouble . But what is not arguable is the need for the public finances to be sustainable. Sustainable budgetsThat is why the bond markets matter, and why a return to sustainable budgets in the next couple of years is imperative, no matter who is in government.

Source: The Irish Times March 06, 2021 01:00 UTC