Economist: Debt level means Govt is 'in a weak position to deal with trouble'

One of the country's leading economists says Ireland's debt levels are far too high.

UCD Professor Colm McCarthy cannot understand why the State is still borrowing money, when we currently owe €200bn.

He says once again this year Government revenue will be less than expenditure.

Professor McCarthy is concerned politicians seem to have no ambition to bring the budget into surplus and get our debt under control.

He said: "The trouble is this, if you have a really seriously heavily borrowed government, and we do, you're in a weak position to deal with trouble.

"For now you can borrow money, it's very easy for European governments to borrow money, because the European Central Bank has been pumping the stuff out, but there's no guarantee that that position will maintain into two or four or six years' time."