Can we afford this bailout

fiannafailure

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So we are borrowing between €80 and €120 billion at an interest rate of between 5% and 7%.

Can we afford that, €80billion @ 5% equals almost €5000 a year for every employed person in the country, for decades.

Where is the economic growth to come from, in order to pay for this.

I have some ideas but the government don't, why ?
 


nuj

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We sure as hell can't afford it at the 7% being rumoured. That's not a bailout, that's an economic death sentence.
 

hammer

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Cant wait to see how we are going to repay it :)

We are only talking about an interest only stabilisation fund :) :) and we`re hard pressed to pay the INTEREST :(
 

Mister men

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120 Billion at 8% (best case scenario) = 9.6 Billion a year = R.I.P Eire.
 

Cassandra Syndrome

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Total Savings €180 Billion
Total Borrowings including bailout €1 Trillion

Do the maths, lights out.
 

hammer

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So its a negative €820,000 million

1.5m workers

Easy peasy.


Did I read somewhere that a computer game grossed €500m in its first week of release :) :)
 

Squire Allworthy

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The country will become insolvent, why prolong the misery. Default now and face the inevitable. With any luck the ripples will spread and a more radical solution will be devised.
 

Nonsence & lies

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So its a negative €820,000 million

1.5m workers

Easy peasy.


Did I read somewhere that a computer game grossed €500m in its first week of release :) :)
Forget live aid, we just need to come up with a hit all platforms video game. Only problem is we'd probably let it leak onto the internet, and end up with the best game ever made, but make no money.

Default it is!
 

Jack Pott

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Nov 21, 2010
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So its a negative €820,000 million

1.5m workers

Easy peasy.


Did I read somewhere that a computer game grossed €500m in its first week of release :) :)
yes its time to start making bootleg copies of all forthcoming call of duty games and get RTE to make Avatar 2 starring the cast of fair city. every little helps
 

Dreaded_Estate

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We sure as hell can't afford it at the 7% being rumoured. That's not a bailout, that's an economic death sentence.
Can we even afford it at 5%?

115bn current GGD plus 85bn in the bailout. total debt up to 200bn.

Even at 5% that would be 10bn pa, even that would be unsustainable IMO.
 

EvotingMachine0197

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We need the money.

For the next three years we have to make it work for us, plough it into investment of all sorts, labour intensive, skills intensive and exports generating.

At the same time carry out a serious reform of the way we run the Country. Get the taxation system sorted out, make stuff fair, efficient and competitive. Get really hard on corruption and corporate crime.

Just sort the whole damn thing out. If it takes 1000 Bills and 4000 Statutory Instruments - just do it. And make damn sure there is an enforcement regime who can enforce.

Then, in 2015, default. Tell EU and IMF we can't repay that much so feck off. Demand a restructuring which makes the repayments affordable.

They may not mind so much in 2015 if the serious crises facing the Euro and Dollar fiats are distant memories ..
 

fiannafailure

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There is only one way out of this debacle, we must grow the productive part of the economy.

The IMF recognise this, why does our government stay silent on this aspect, lets hope the 4 year plan is heavy on growth
 

hammer

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Can we get some expertise into the Dept of Finance to decide on how it does get spent.

The public sector do not do procurement.

They procure to the company/person that is in "favour".

We need untarnished individuals will to do their utmost for the state and negotiate all deals.

Duksey, Somers, McSharry, Ruari Quinn, John Bruton and others......................
 

Ah Well

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Can we afford this Bailout?

That's even assuming we won't go looking for more subsequently

Brian Lucey has predicted we will ultimately need approx €250 Billion

There's yer answer

Default now ... or default subsequently in any event
 

Christel

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Mar 12, 2004
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So we are borrowing between €80 and €120 billion at an interest rate of between 5% and 7%.

Can we afford that, €80billion @ 5% equals almost €5000 a year for every employed person in the country, for decades.

Where is the economic growth to come from, in order to pay for this.

I have some ideas but the government don't, why ?
I was wondering myself. This bailout, sounds kind of positive, but is just getting into more debt.
Go ahead, tell your suggestions of paying it back,
 

Cassandra Syndrome

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Default, go bankrupt, set up again with a savings induced growth model were household savings equals investment / borrowings for capital projects. No more booms or busts or bubbles.

Its very, very apparant that they should have listened to Hayek instead of Keynes in the 1930s.
 

king5494

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Mar 3, 2010
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It's not meant to be affordable ,it's the French/German way of saying "feck off".
 


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