How Much Would Ireland Benefit from Replacing the Promissory Notes with a Long-Term Bond?

Lots of people I’ve spoken with about the dreaded Anglo promissory notes are mystified at why the Irish government seems willing to replace the notes with a 40-year bond.  Isn’t it just replacing one kind of debt with another? Won’t we just end up paying more over the long-run? Here‘s a post where I try to answer these questions. Warning: This is a tricky topic and it’s an unusually wonkish post.