National debt to peak at €200bn in 2013

Irish national debt will peak at around €200bn by the end of 2013, according to the National Treasury Management Agency (NTMA), which borrows money on behalf of the State.

Agency chief John Corrigan has told the Oireachtas Finance Committee that money saved by burning junior bondholders in the banks can now be re-diverted towards funding the country for the next two years.