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Showing posts with label Newfoundland and Labrador debt. Show all posts
Showing posts with label Newfoundland and Labrador debt. Show all posts

Thursday, 25 February 2016

PROBLEM IN THE LONG-TERM DEBT MARKET HAS BALL SCARED

Paul Davis did not tell the people of this province that we could not borrow long term money. That’s the situation we are currently facing in the province….” Premier Dwight Ball (VOCM Open Line February 2-, 2016)

I wasn’t sure that I had heard the Premier right; I waited until VOCM had posted Paddy Daly’s Open Line Show on its archive and listened again, and again. Indeed, he did say it: “… we could not borrow long term money…”

Ball seemed apprehensive, even scared. Later, I wondered if he fully understood the implications of what he had said.

This may seem, to some, a very complex issue; but that is true only in its detail. Most people would understand the implications of having their credit card taken away.