Citi boss: ‘Negotiate a second bailout’
Willem Buiter of international financial services giant, Citi, said instead of returning to the debt markets and borrowing money at a rate of 8%, Ireland should consider continuing borrowing from the troika at a rate of 3%.
He added, however, the Government should not attempt to secure a second bailout agreement “in a state of near panic, at the last minute”, but should negotiate a second loan agreement to have on standby in the event of not being able to borrow from the markets later this year.
