Government ‘won’t default’ on debt

THE Government won’t default on its debts, said Cambiz Alikhani of the Iveagh Wealth Fund, which manages some of the Guinness brewing family’s fortune.

And the plan to narrow Ireland’s deficit, which is “going to hurt,” may have a “silver lining” by reducing borrowing costs, said Daniel Leigh, an International Monetary Fund economist.

The austerity plan is “unavoidable,” he told reporters after a presentation at Trinity College Dublin. “Ireland is doing the right thing.”