Ireland debt - 700% of GDP!!!
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Ireland debt - 700% of GDP!!!
The scale of Irish debt is a breathtaking - 700% of GDP.
RBS alone (owned by us remember) is owed £40b.
The Irish import £12bn from the UK every year - if they go bust we are totally screwed as most of their debt is in our banks!
RBS alone (owned by us remember) is owed £40b.
The Irish import £12bn from the UK every year - if they go bust we are totally screwed as most of their debt is in our banks!
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The Irish banks have been giving out stupid amounts of money over the past 15 years without any form of security..
Well they are now going to have to sell a lot of potatoes to cover that bad debt
Well they are now going to have to sell a lot of potatoes to cover that bad debt
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That can't be right, can it? I take it that is total debt, public and private? That's crazy. When you think about it (or at least try), what is debt? How is this money ever going to be repaid? Does it even need to be?
It seems like there's a lot of IOUs sloshing around in the world that will never be anywhere near repaid, not even a fraction of them in real terms. A deficit running nation - a drain on the world with permanent negative cashflow - is the norm, or at least it has been for some time.
Where are the factories, the producers to repay these sums? Will the creditor nations ever wake up to the fact they're long-gone, or does it even matter? Mind boggling stuff.
It seems like there's a lot of IOUs sloshing around in the world that will never be anywhere near repaid, not even a fraction of them in real terms. A deficit running nation - a drain on the world with permanent negative cashflow - is the norm, or at least it has been for some time.
Where are the factories, the producers to repay these sums? Will the creditor nations ever wake up to the fact they're long-gone, or does it even matter? Mind boggling stuff.
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That can't be right, can it? I take it that is total debt, public and private? That's crazy. When you think about it (or at least try), what is debt? How is this money ever going to be repaid? Does it even need to be?
It seems like there's a lot of IOUs sloshing around in the world that will never be anywhere near repaid, not even a fraction of them in real terms. A deficit running nation - a drain on the world with permanent negative cashflow - is the norm, or at least it has been for some time.
Where are the factories, the producers to repay these sums? Will the creditor nations ever wake up to the fact they're long-gone, or does it even matter? Mind boggling stuff.
It seems like there's a lot of IOUs sloshing around in the world that will never be anywhere near repaid, not even a fraction of them in real terms. A deficit running nation - a drain on the world with permanent negative cashflow - is the norm, or at least it has been for some time.
Where are the factories, the producers to repay these sums? Will the creditor nations ever wake up to the fact they're long-gone, or does it even matter? Mind boggling stuff.
Add to that the Pensions defecit and the increasing gap and social and health provision of an aging population and the only outlook is a very, very long term bleak economic outlook.
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Looks like they have put a new man in charge to head up the recovery a man of honour, integrity and compassion!
http://www.youtube.com/watch?v=TCb1mGIKRhA
http://www.youtube.com/watch?v=TCb1mGIKRhA
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It does seem primarily the bank's fault in loaning huge sums for property development which turned sour in a big way. And then the govt bailing them out so the population (including us through the Irish/UK links) became responsible for the debt.
John Redwood was ripping into the Germans yesterday accusing them of stirring things up and unsettling the bond markets and so making it worse for Ireland when they next need to borrow funds in a few months time. And he has a point.
I don't think UK exposure is quite as bad as stated as RBS has made provision for a big hit and UK govt is in for £6b max if the s,hit really hits the fan. But we could do without this right now
My son lives and works in Dublin at the moment and times are tough. His big moan is the cost of everyday things - like Guinness and takeaways!!
I also heard that in most crises TV audiences rise sharply but over there they are falling sharply as it seems the Irish are totally p,issed off with it all
I wish them well.
dl
John Redwood was ripping into the Germans yesterday accusing them of stirring things up and unsettling the bond markets and so making it worse for Ireland when they next need to borrow funds in a few months time. And he has a point.
I don't think UK exposure is quite as bad as stated as RBS has made provision for a big hit and UK govt is in for £6b max if the s,hit really hits the fan. But we could do without this right now
My son lives and works in Dublin at the moment and times are tough. His big moan is the cost of everyday things - like Guinness and takeaways!!
I also heard that in most crises TV audiences rise sharply but over there they are falling sharply as it seems the Irish are totally p,issed off with it all
I wish them well.
dl
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Not sure about RBS tbh as I don't know how much they have allowed for.
dl
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BUT - If Ireland does and Iceland then I think RBS would be in very serious trouble, and in turn the UK economy, again!
We already own most of it and the shareholding in RBS alone is already impacting the UKs credit rating, a further negative impact will cost us far more in debt servicing than the proposed £5bn we are going to chuck in the pool.
Last edited by Trout; 18 November 2010 at 01:36 PM.
#28
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A lot of Irish people come and but their shopping in N.Ireland.
Even more funny is that Sainsbury's put on transport and bring up bus loads of people to do their shopping.
They feed them with tea/coffee and sandwiches and then bus them back to Dublin with their shopping
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Trout btw, RBS trades on more than just the UK so there will be folks in the Republic who have money stuck in their institutions too.
I am in the north and have invested heavily in one of their £1000 overdrafts too
Last edited by brendy76; 18 November 2010 at 04:26 PM.