€85 Billion bailout at 5.83%

hammer

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Jul 6, 2009
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Most senior public servant

"This actually saves us money"Speaking on the budgetary process.

When we remove Fianna FAIL we need also to retire the top public servants in my opinion :)
 


hammer

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€68,000 million at 5.83% = €3,964,400,000 per annum :)

+ opportunity cost of transfer from NPRF :)

Or the original austerity program target for 2011 until October 2010 :)
 

Mister men

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May 9, 2010
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€68,000 million at 5.83% = €3,964,400,000 per annum :)

+ opportunity cost of transfer from NPRF :)

Or the original austerity program target for 2011 until October 2010 :)
Frightening i agree.
 

carruthers

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Apr 30, 2008
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€68,000 million at 5.83% = €3,964,400,000 per annum :)

+ opportunity cost of transfer from NPRF :)

Or the original austerity program target for 2011 until October 2010 :)
Do you know the annual interest on the rest of the national debt? Given the tax take will probably be down on last year (31 billion) the figures just don't add up.. We are broke and money at 5.8 percent is not a bail out it's the coup de grace.
 

galteeman

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Nov 6, 2010
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Does anyone know why we are paying a higher average rate than the Greeks?
 

dgl

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Apr 27, 2007
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€68,000 million at 5.83% = €3,964,400,000 per annum :)

+ opportunity cost of transfer from NPRF :)

Or the original austerity program target for 2011 until October 2010 :)
Guys, there's an awful lot of rubbish on p.ie on the bailout front, eg

1) The cost if the bailout is not 5.8%, it's the extra we are paying over the normal rate of interest or say 1%
2) We don't borrow €68bn tomorrow and pay interest on it all.
3) Assuming no bailout and an amenable bond Market we'd be borrowing something similar anyhow.
4) why would we borrow the full €85bn at 5.8% when we canuse the pension reserve fund?

The only valid questions are
1) could the interest rate have been (even marginally) lower?
2) would a negotiated default on senior debt be worth the risk?
3) is the pace and mix of budgetary adjustment optimal?

All this talk of "traitorous scum" and "gates of hell" is inflammatory nonsense.

I want to see the back of FF as much as the next man but when they are involved in a situation like this I accept their bona fides as fellow Irish people.
 


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