The Magic of Money

The interest rate is rising in an Irish debt because the ECB is increasing interest rates to get rid of inflation. But once it gets rid of inflation, interest will come down again. The Department of Finance in Ireland is intellectually traumatized by previous debt crisis. It's like PTSD, they don't think straight. So what I'm saying is using this money to pay back debt, madness, really madness. If you see money through the prism of balance sheet, what you are doing is you are elevating dull accountancy over vibrant economics.