Examination Controller Patna University
Following years of spending cuts and tax increases, the people of Ireland will be rewarded with the restoration of its financial sovereignty. However in order to be able to stand on our own two feet at the end of 2013, Ireland will have to overcome some additional hurdles. Ireland, in order to survive in a world without the assistance of the Troika will more than likely have to borrow money in advance of their return to the market. Ideally Mr Noonan would like to have a year and a halfs funding, which would require the government to borrow 17 billion during 2013. Is this Feasible?In my opinion the success of this strategy will depend on the interest rates for longer term bonds which in turn depend on investor perceptions of Ireland. As of today, the interest rate on Irelands 10 year bonds is 4. 82%. In July 2011 this rate stood at 14% and has fallen substantially since. This is an indication that investors are warming to Ireland. Indeed the NTMA has exploited this declining rate and has already borrowed 5 billion this year. If it was to fall further, Ireland would be able to borrow 17 billion without much difficulty.
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Although only constructed in the 19th century, this building has become an accepted part of the Parisian skyline and it is a popular spot for tourists to visit. Like the Eiffel Tower it offers good photographic opportunities looking down upon Paris. The Champs Elysees is probably the most famous street in the world and it acts as the meeting point for twelve other streets whilst connecting two notable plazas. Amongst other things, the Champs Elysees has two wide walkways, one either side of the avenue, and its entire length is lined with exclusive boutiques, palaces and hotels Paris. No one ever visits Paris without strolling down this fashionable boulevard. The Arc de Triomphe is another famous landmark of Paris, but without witnessing it first hand it is impossible to appreciate the scale of this gargantuan masonry structure. It was built in 1806 and has 284 steps that rise to the top viewing gallery. It has even had a full sized plane fly through its massive open arch. It sits at the west end of the Champs Elysees. The Palace of Versailles is simply known as the most beautiful palace in the world. It has 700 rooms and 67 staircases and plays host to two and a half million visitors each year.
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