Ireland - where did we get 7bn from?
22 November 2010, 03:39 PM
#31
I am of the same agreement with most on here, the govenment must either know something we dont or they are taking a huge gamble on on an irish government who may or may not be totally overhauled with other muppets come January.
As an aside, if it wasn't for all the proposed cuts, hike in VAT etc in the UK how close are we to falling over the edge too? (euro or not, it still took us 60 fookin years to pay back america for WW2) I think a few guys here are taking a moral high ground which we do not have really. If we were Germany or Sweden maybe, but we're not exactly flush either to be giving the "let them rot" attitude.
As an aside, if it wasn't for all the proposed cuts, hike in VAT etc in the UK how close are we to falling over the edge too? (euro or not, it still took us 60 fookin years to pay back america for WW2) I think a few guys here are taking a moral high ground which we do not have really. If we were Germany or Sweden maybe, but we're not exactly flush either to be giving the "let them rot" attitude.
22 November 2010, 04:22 PM
#32
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Just been announced that the UK is to lend 7 billion pounds to Ireland to help bail them out.
I know it isn't as simple as it seems, but it sure sticks in the throat given Cameron and Osborne tleling us how hard things are just a few weeks ago and implemenaing cuts right, left and centre.
I know it isn't as simple as it seems, but it sure sticks in the throat given Cameron and Osborne tleling us how hard things are just a few weeks ago and implemenaing cuts right, left and centre.
Our grandchildren will deal with one day-if they get the chance!
Les
22 November 2010, 07:57 PM
#36
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The nail was hit on the head earlier in the thread. The idea that a problem of too much debt can be solved by more debt is ridiculous. It's like someone struggling to pay their credit card bills taking on more debt to pay them. Why would you lend to someone who acknowledges that the only way they can pay you back is by borrowing more of your money? Lol. Crazy, and I know I keep rattling on about this doom and gloom crap, but we have to be within sight of the end game now; This isn't just any other recession where a country is going through a slump and can repay at a later date. These countries are totally unproductive! There is zero - absolutely zero - chance of anyone being paid back in anything like real terms, without a subtantial temporary drop in living standards in this country as people make the transition from services to production. This is what the limp-wristed, liberal lefties on programs like question time don't realise.
Last edited by GlesgaKiss; 22 November 2010 at 07:59 PM.
22 November 2010, 08:30 PM
#38
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22 November 2010, 08:37 PM
#39
There is no doubt the total amount on offer to RofI will be bound by many conditions to ensure it is repaid.
The majority shares of the banks have been bought up by the state in an attempt to regain control. I would suspect these shares will be handed to the UK / European underwriters. There will be conditions attached to every last euro offered, maybe by increasing taxes. As has already been indicated the interest rates are currently 3% above that in the UK, so UK PLC stand to make a tidy profit on their outlay.
I suspect we may have a united Ireland more quickly than anyone expected, but it may well be united with the UK.
The majority shares of the banks have been bought up by the state in an attempt to regain control. I would suspect these shares will be handed to the UK / European underwriters. There will be conditions attached to every last euro offered, maybe by increasing taxes. As has already been indicated the interest rates are currently 3% above that in the UK, so UK PLC stand to make a tidy profit on their outlay.
I suspect we may have a united Ireland more quickly than anyone expected, but it may well be united with the UK.
22 November 2010, 10:29 PM
#42
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Cant we just foreclose on the debt and claim our assets and then sell off what we dont want to keep, it has got to be cheaper than invading 
And why do we bail out a euro zone country we said the euro was a bad idea and now we are bailing them out but i bet we will be joining after the next general election when NL get voted back in.
And why do we bail out a euro zone country we said the euro was a bad idea and now we are bailing them out but i bet we will be joining after the next general election when NL get voted back in.
22 November 2010, 10:32 PM
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22 November 2010, 10:40 PM
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Of the direct loan, our direct economic ties give us more leverage.
Last edited by Trout; 22 November 2010 at 11:06 PM.
22 November 2010, 11:00 PM
#46
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Yes you're right, I just read the papers. We are giving them an extra loan on top of the amount we contribute to the EU loan.
22 November 2010, 11:08 PM
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22 November 2010, 11:20 PM
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200 million !
Well at least thatll keep a few hospitals in operation for a day or two
, im sure its all worth it , although god knows why and how were able to borrow the money to lend em in the first place
Well at least thatll keep a few hospitals in operation for a day or two
, im sure its all worth it , although god knows why and how were able to borrow the money to lend em in the first place
23 November 2010, 03:59 AM
#51
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The nail was hit on the head earlier in the thread. The idea that a problem of too much debt can be solved by more debt is ridiculous. It's like someone struggling to pay their credit card bills taking on more debt to pay them. Why would you lend to someone who acknowledges that the only way they can pay you back is by borrowing more of your money? Lol. Crazy, and I know I keep rattling on about this doom and gloom crap, but we have to be within sight of the end game now; This isn't just any other recession where a country is going through a slump and can repay at a later date. These countries are totally unproductive! There is zero - absolutely zero - chance of anyone being paid back in anything like real terms, without a subtantial temporary drop in living standards in this country as people make the transition from services to production. This is what the limp-wristed, liberal lefties on programs like question time don't realise.
It will end in us either totally owned by and enslaved by the banks or some sort of revolution/war.
Just gotta make sure I own my own house by then, have a shotgun handy and a stack of gold and beans.
23 November 2010, 10:56 AM
#52
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We have to accept that if we remain in the Eu advancement club for politicians, then not only do we have to join in with bailing out failing countries, maybe even Spain and Portugal soon too, but we also have to accept our own politicians giving extra amounts of our cash away too in order to inveigle themselves into the good books of other countries' leader too.
Les
Les
23 November 2010, 11:06 AM
#53
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We have to accept that if we remain in the Eu advancement club for politicians, then not only do we have to join in with bailing out failing countries, maybe even Spain and Portugal soon too, but we also have to accept our own politicians giving extra amounts of our cash away too in order to inveigle themselves into the good books of other countries' leader too.
Les
Les
23 November 2010, 05:33 PM
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The only thing is that the present Irish Govt or coalition is going for a election after the budget-expected Jan 2011 after they get the money.
It is those that follow on winning the election I am worried about. Sein Fein are taking the moral high ground and win overall majority, who says they will pay back anything
It is those that follow on winning the election I am worried about. Sein Fein are taking the moral high ground and win overall majority, who says they will pay back anything
23 November 2010, 06:43 PM
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There is no doubt the total amount on offer to RofI will be bound by many conditions to ensure it is repaid.
The majority shares of the banks have been bought up by the state in an attempt to regain control. I would suspect these shares will be handed to the UK / European underwriters. There will be conditions attached to every last euro offered, maybe by increasing taxes. As has already been indicated the interest rates are currently 3% above that in the UK, so UK PLC stand to make a tidy profit on their outlay.
I suspect we may have a united Ireland more quickly than anyone expected, but it may well be united with the UK.
The majority shares of the banks have been bought up by the state in an attempt to regain control. I would suspect these shares will be handed to the UK / European underwriters. There will be conditions attached to every last euro offered, maybe by increasing taxes. As has already been indicated the interest rates are currently 3% above that in the UK, so UK PLC stand to make a tidy profit on their outlay.
I suspect we may have a united Ireland more quickly than anyone expected, but it may well be united with the UK.
23 November 2010, 07:00 PM
#58
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the irish had 600 years of english rule before didnt work out too well as for the irish banks that brought this country to its knees with nothing but greed the ordinary irish man/woman are the victems in all this so dont paint us all with the same brush. thanks for the loan nice to have good neighbours
The society in these countries is to blame for the mess we're in now. Politicians do whatever they can to please the majority. This is the problem with democracy... the average person on the street probably knows as much about the likely outcomes of a policy as the politician that enacts it, as they never think too far into the future with these things. So really people end up voting for policies that have a negative outcome in the long-run. But they don't even realise it, and as I said, much easier to vilify another class, usually one that's more wealthy.
23 November 2010, 07:00 PM
#59
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Revised Emergency Statement From The Irish Prime Minister ...
http://grumpyoldtwat.blogspot.com/20....html#comments
As for Sein Fein, they'll be the ones objecting to budgets being cut in the North so they'll be right up for cutting budgets in the South .... Ummm ....
The electorate get the eediots in power that they vote for ... ! (With the excep0tion of the UK where the Tories/LibDumbs made it up as they went along .... ).
Dave
http://grumpyoldtwat.blogspot.com/20....html#comments
As for Sein Fein, they'll be the ones objecting to budgets being cut in the North so they'll be right up for cutting budgets in the South .... Ummm ....
The electorate get the eediots in power that they vote for ... ! (With the excep0tion of the UK where the Tories/LibDumbs made it up as they went along .... ).
Dave
23 November 2010, 07:29 PM
#60
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Sure it's madness, create more debt to pay off old debt....keep accumulating more and more debt.
It will end in us either totally owned by and enslaved by the banks or some sort of revolution/war.
Just gotta make sure I own my own house by then, have a shotgun handy and a stack of gold and beans.
It will end in us either totally owned by and enslaved by the banks or some sort of revolution/war.
Just gotta make sure I own my own house by then, have a shotgun handy and a stack of gold and beans.
I'm not exactly properly worried about this, certainly not going to lose any sleep over it in real life, but it does influence the way I save. Would rather own 'stuff' - good divi paying stocks, land, and whatever else - than hold money. Better to have real assets IMO.