Includes “The national debt of Ireland refers to all of the debt owed by the national government under standard financial instruments. Local government debt, unpaid invoices, pension obligations, and lease agreements are not counted as part of the debt. … there is one other obligation, which would increase the record figure of Ireland’s national debt if it was recognized by standard accounting conventions in the governments account. That is the guarantees that the Irish government issued to underwrite all deposits made to Irish banks.”
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