According to Newstalk we're looking @ 6% interest rate on bailout?

vanla sighs

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If true we simply will not be able to pay that. What exactly is stopping them giving us a rate @ say 2%? Even @ 2% they are making a profit are they not? So, when are we defaulting (or "debt restructuring" as the pc term is)? Now or later?
 


edifice.

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If true we simply will not be able to pay that. What exactly is stopping them giving us a rate @ say 2%? Even @ 2% they are making a profit are they not? So, when are we defaulting (or "debt restructuring" as the pc term is)? Now or later?
Wont the rate be determined by the Franch and German Banks which this bailout is actually designed for?
 

Squire Allworthy

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Too much rumour smoke and mirrors at the minute, best to wait and see what is actually offered.

The sources could be misleading and aimed to show how generous the final deal actually is. Comes in at say 3% and everyone breaths a sigh of relief and forgets they are in part paying for bank failure.
 

Freedom front

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6% is Crazy & we cant afford the fund t 1% interest,Time to Save Ourselves, We are being sacrificed to save the euro.

1. Default on Bank Debts & Bondholders
2. Leave the Euro
3. Bring back the Punt linked to the Pound
4. Introduce 6/12 month bankruptcy laws

Lets all work together, take the best decisions in the interests of the Irish people & create a better life for our People
 

vanla sighs

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Too much rumour smoke and mirrors at the minute, best to wait and see what is actually offered.

The sources could be misleading and aimed to show how generous the final deal actually is. Comes in at say 3% and everyone breaths a sigh of relief and forgets they are in part paying for bank failure.
I don't think we should be bailing out the bad banks in any case. Even if the interest was say 3% we still won't be able to repay it. And that's just the interest, nevermind the actual loan itself....and nevermind the other billions incuts we're going to making year on year. We need to default on the bad bank debt. A default is inevitable.
 

Squire Allworthy

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I don't think we should be bailing out the bad banks in any case. Even if the interest was say 3% we still won't be able to repay it. And that's just the interest, nevermind the actual loan itself....and nevermind the other billions incuts we're going to making year on year. We need to default on the bad bank debt. A default is inevitable.

I agree with you and it would appear that many in the EU also agree that the bond holders should shoulder their burden, but in Ireland FF have an entirely different outlook which they appear to be clinging to. Amid all this we hear call of how dreadful the EU is, there are times when I wonder.
 

vanla sighs

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I agree with you and it would appear that many in the EU also agree that the bond holders should shoulder their burden, but in Ireland FF have an entirely different outlook which they appear to be clinging to. Amid all this we hear call of how dreadful the EU is, there are times when I wonder.
Well, to be honest I don't think the EU is all that good for us. I'm not saying it wasn't good for us, I'm saying I really wonder how good it is for us these days? I'm not all out anti-EU but I do believe in an EU based on respect and democracy and that is not what we have. We have a Franco-German centric EU, we're turning into litle more than a colony. We are being sacrificed by the EU to save the eurozone at large. Just as they did to Greece. Just as they will do to Portugal. When it hits Spain and possibly Italy it'll be too late, a whole new ball game then. Heard yesterday Belgium is also getting into difficulty - the heart of the EU, isn't that ironic.

An EU based on respect, transparency and democracy is fine. But that is not what we have. My confidence in the EU probably changed big time during Lisbon 2.

It was the EU who told us the minimum wage HAD to be cut.

http://www.irishexaminer.com/home/gormley-europe-sought-minimum-wage-cut-137666.html
 
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