Irish bail out

[Norcon]

No worries, their drilling for gold near my home.
Near where my Grandad had a fire fight with the ira back in the 20's.
He predicted the EU to break up. Clever man I think.
Just on the border with the IR. At current prices not that much would be needed to bail out the Irish.

 

[Mickymoody]

I caught the back end of a programme on TV that said Ireland had invested £7 billion pounds into its road infrastructure recently, and now they are bust, and we are paying their £7 billion. So we are paying for their motorways? And the £7 billion is exactly equal to the amount of savings that the UK is expected to make in the first year?

Here it comes; I heard a conspiricy theory, that said that Asia is taking all the US$ by buying oil, then reselling as gold or some crazy idea, thus destabilising the US market, while holding oil prices, so people don't notice, and at the same time boosting their ever expanding economy, and, as this has been predicted, a new currency type is to be introduced, to replace the dollar. (As all oil worldwide is sold in dollars), thus wiping off the global debt.

I believe there are YouTube videos that give more info, but not gone into that, a conspiricy is a nice story, and most are probably half true, but not for me. (Guess who watched the film JFK again, on the anniversary?)

All I know about economics is this; You put a crate of lager on the conveyor at Asda, alongside some nappies, and don't have enough to pay for both, one must be rejected, you reject the nappies, a fellow shopper will chip up the money for the nappies. (I don't have a baby, they are for my Nan)...no, it's just a joke.

 

[empip]

Forgetting Darling, back in May, post Labour pre coalition are we?

...Billions of pounds of British money could be at risk if a fellow EU country defaults on its debt, Chancellor Alistair Darling has admitted.

He was speaking after European finance ministers agreed a 500bn euro (£433bn) bail-out package to prop up the single currency.

Even though Britain has not signed up to the euro, it is still exposed to £8bn in the event of a "100% default" by an EU nation, Mr Darling admitted.

But he insisted he had "minimised" the risk and described the agreement as a "very good deal".

In what was probably his last EU gathering representing the Labour administration, Mr Darling approved a 60bn euro (£52bn) top-up of an existing EU budget fund to help struggling nations...

So is our £7Bil being funded from the above deal or a 'friends in need' job? Mind you I heard we are borrowing at 3% int and charging Ireland at 6% or more...
-0-

 

[wreckedit]

Empip

So is our £7Bil being funded from the above deal or a 'friends in need' job? Mind you I heard we are borrowing at 3% int and charging Ireland at 6% or more...

It really doesn't matter why it was given it will now be locked into the Irish economy and be down the line for repayments. The IMF and Euro will be first.
The Irish have been poaching industries from all over the place by offering 12.5% corporation tax and will highly resist changes. If they do change, their ability to manufacture exports will suffer and they'll not be able to service any loans.
So, its likely that having got a loan only the interest will be paid back and the capital....well we can kiss that goodbye.
Same goes for all the other PIIGS.

 

[mark vincent]

It's only money.

 

[bengasman]

Europe is a F**king mess, whats going to happen when the rest of the poor former eastern European countrys join...

Not that I'm a great advocate of getting more semi-literate e-e's in, but when it comes to being poor, Britain must be pretty high up there.

Roughly 5 trillion debt, over 10 million looking for a job ( ok, a lot of those are quite happy on the social and have no intention of ever finding a job), millions of civics "working" in completely pointless artificially created "jobs", and you find the result of about £250,000 of debt for each and everyone of us working in the private sector.
Or in other words: if there was such a thing as they "average family with mommy, daddy and 2 kids, they'd have to earn a million quid without spending a penny before they could say: "hey, we've got nothing."

If you are poor, you have little. Britons dont' have little, they have much less than nothing.

 

[joinerjohn]

I caught the back end of a programme on TV that said Ireland had invested £7 billion pounds into its road infrastructure recently, and now they are bust, and we are paying their £7 billion. So we are paying for their motorways? And the £7 billion is exactly equal to the amount of savings that the UK is expected to make in the first year?

It was on Top Gear some years ago, the Spanish spent xx millions on their motorway network (which in the maiare toll roads). The amount they spent on motorways was almost identical to what the UK paid into the EU on a yearly basis. Jeremy Clarke was arguing with some Spanish gringo at a toll booth saying he shouldn't pay as the motorways were built with British money.
(The gringo was having none of it and he coughed up a couple of euros).

 

[joinerjohn]

As I see it,,, The Irish can't pay their debts (which probably include some debt to the UK) So we lend them even more money to cover the debt they can't pay. So they now owe us even more. Hmmmmmm Are you sure the Chancellor knows how to do maths??

 

[geraint]

I caught the back end of a programme on TV that said Ireland had invested £7 billion pounds into its road infrastructure recently, and now they are bust, and we are paying their £7 billion. So we are paying for their motorways? And the £7 billion is exactly equal to the amount of savings that the UK is expected to make in the first year?

It was on Top Gear some years ago, the Spanish spent xx millions on their motorway network (which in the maiare toll roads). The amount they spent on motorways was almost identical to what the UK paid into the EU on a yearly basis. Jeremy Clarke was arguing with some Spanish gringo at a toll booth saying he shouldn't pay as the motorways were built with British money.
(The gringo was having none of it and he coughed up a couple of euros).

good old top gear... the modern day sun newspaper... but only to the readers....

 

[joinerjohn]

Nowt wrong with Top Gear, Geraint!!! Bloody great program. Jezza says it as he sees it. The Hamster,,, lucky to be alive and still full of enthusiasm.
Capt Slow,,, dependable and takes all the stick the others throw at him.
As to the allusion to The Sun,,, Only thing that's missing is some page 3 girls !!
Tits oot fer the lads.

 

[Mickymoody]

What I saw WASN'T on Top Gear, I hate it, and Jeremy Clarkson! That isn't the source! Slag them off all you like, I hate them, but not the source!

You are talking Spanish roads, not Irish roads! Some people actually watch factual TV programmes!

 

[joinerjohn]

Calm down Mickey, Calm down.
I didn't say that was the programme you watched. This was an episode of TG that featured JC testing some sports car on Spanish Motorways that I was referring to. I only mentioned it , as you had said , the UK have lent the Irish £7b and that was the cost of their road improvements. Your point remains valid.
All I was pointing out was that the UK contribute into the EU, as much as the Spanish spent on their motorways too.