The Taoiseach has said that Ireland will not be able to borrow cheaply forever and there is no such thing as free money. Leo Varadkar told the Dáil that the country's increasing debt would have to be serviced and refinanced.
He said the mistake should not be made of thinking that Ireland could borrow cheaply in six months' time and it would be naive to think that conditions would not change.
If this happened, Mr Varadkar added, those with the largest deficits would be the first to feel the ill wind. He said there were many downsides to prolonged low interest rates and increased money supply.
This would lead to inflation and devalue spending power, he said, but there were no risk-free or perfect solutions. Mr Varadkar said the cost of