The self same amount of debt cost near €8bn a year to service in 2013 and the same amount of debt will cost less than €5bn a year to service from 2019 onwards. The article is remarkably unresearched even by Irish Times standards.
This is from here table 10
2013 7,738 (€7.7bn)
The government has €2.5bn a year, cash, it did not have in 2013 based off the same level of borrowing as 2013. This virtous cycle of swapping expensive debt for cheap debt comes to an end in 2020 and the debt servicing figure will settle down in the €4.5-4,7bn range from then on (infinitely)
It is unlikely to ever go below €4bn unless we (shock horror) pay some of the €200bn off.
Can we fund the exceptionally high redemptions in 2019 and 2020 , why yes, of course we can. Easily.
After October 2020 we will lower our cash holdings (to pay off the following years debt) so the net debt figure will rise but not the gross debt. It is probable that we will get the gross debt below €200bn by 2022 mainly because windfalls will conveniently be at hand between 2020 and 2022 such as Apple and more AIB sales and we will not need to borrow the full amount for the following years during that period.