# Nobel economist criticises Irish bondholder payments



## NorfBank (27 Jan 2012)

In the case of Ireland, he urged the Government to shrug off the peer pressure it was experiencing, saying that threats from creditor banks and political partners were as predictable as they are toothless.

“They always say if you don’t all hell will break lose but the fact is, whenever it’s tested, it’s never true,” he said. “Russia defaulted and was back in the market a short time later. And that was a government defaulting, Ireland is socialised debt of an unsecured creditor.”

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## Ancutza (28 Jan 2012)

We're a nation of cowards so we will, of course, pay up.


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