Pension Fund now spent??

Ulster-Lad

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Finance Minister Brian Lenihan will use a €20bn cash pile to stave off a Greek-style rescue, as the Government taps the funds to avoid paying record rates to borrow.
Government to use cash pile to avoid record borrowing rates - Irish, Business - Independent.ie

The article does NOT say where the money came from. :mad: Has the pension fund now been spent? I was not aware the government had an extra 20 Billion Euro laying about.

Also Lenihan is to go to America to seek investment in Ireland.
 


Conor

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EUrJokingMeRight

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Thank god for FF. Where would we be without them?
 

GDPR

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If they had why all the bond auctions?
You know all the lads here who keep telling us how large the national debt is?

Well, this is part of the stuff they never mention, the cash pile and the pension fund.

I don't know why they never mention it, maybe they just forget or maybe they don't know about it to begin with.
It's really hard to say, isn't it?
 

Chrisco

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You know all the lads here who keep telling us how large the national debt is?

Well, this is part of the stuff they never mention, the cash pile and the pension fund.

I don't know why they never mention it, maybe they just forget or maybe they don't know about it to begin with.
It's really hard to say, isn't it?
I do hope you are not seriously suggesting, tonic old boy, that we use the pension reserve fund to pay off the debt? :shock:
 

makingjam

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You know all the lads here who keep telling us how large the national debt is?

Well, this is part of the stuff they never mention, the cash pile and the pension fund.

I don't know why they never mention it, maybe they just forget or maybe they don't know about it to begin with.
It's really hard to say, isn't it?
The national debt is always quoted Net of any cash pile.

So, even though we won't borrowing any more money over the next few months, our national debt will contiue to rise, as we spend down the cash pile.
 
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Government to use cash pile to avoid record borrowing rates - Irish, Business - Independent.ie

The article does NOT say where the money came from. :mad: Has the pension fund now been spent? I was not aware the government had an extra 20 Billion Euro laying about.

Also Lenihan is to go to America to seek investment in Ireland.

But what about the Jobs Mary waa going to get us in America? What about the jobs from Europe we were promised by voting yes?


FG and Labour should issue a joint press statement stating they will have nothing to do with the Greens and FF and should they want their ideas for the budget then call a GE.

They should also thorugh into the statement that FF and the Greens are destroying this country and will plunge Ireland into poverty and ruin for years.
 

DCon

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You know all the lads here who keep telling us how large the national debt is?

Well, this is part of the stuff they never mention, the cash pile and the pension fund.

I don't know why they never mention it, maybe they just forget or maybe they don't know about it to begin with.
It's really hard to say, isn't it?
So why bother with the Pension pretence, it is just a slush fund?

The National Pensions Reserve Fund was established in 2001 to meet as much as possible of the costs of Ireland’s social welfare and public service pensions from 2025 until at least 2055.
http://www.nprf.ie/Publications/2010/InnovationFundPressRelease.pdf
 

Cassandra Syndrome

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No it isn't.
Yes it is.

Furthermore at the end of 2009, the government owed €3 Billion to the Irish banks. That figure is now €25 Billion for some reason. Why do they need to borrow so much from the Irish Banks who cannot lend to the real economy?
 

Telemachus

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Also Lenihan is to go to America to seek investment in Ireland.

Never mind jobs, he wont even be bringing back a Toblerone, or some Amer region dvds; like were given to Charlie Browne.
 
Last edited:

Breadan O'Connor

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Government to use cash pile to avoid record borrowing rates - Irish, Business - Independent.ie

The article does NOT say where the money came from. :mad: Has the pension fund now been spent? I was not aware the government had an extra 20 Billion Euro laying about.

Also Lenihan is to go to America to seek investment in Ireland.

As I understand it the govt. has the 20 billion as a result of bonds which it issued over and above its immediate needs over the past year or more.

This money is separate to the pension fund money.

Even so, they will need to be back borrowing by early next year.
 

GDPR

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Yes it is.

Furthermore at the end of 2009, the government owed €3 Billion to the Irish banks. That figure is now €25 Billion for some reason. Why do they need to borrow so much from the Irish Banks who cannot lend to the real economy?
Any chance that would be NAMA bonds at all and no, it isn't, not by the doomsayers on here anyway.
 

DCon

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Cassandra Syndrome

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Any chance that would be NAMA bonds at all and no, it isn't, not by the doomsayers on here anyway.
How many times have I proven you wrong now? 100? 500?

Do you log on to Neurology forums and glibfully blast about knowing the ins and outs of medulla oblongatas to other posters like you pretend to know economics around here?

This is a link from the place were your shower of clowns reside in the Department of Finance. There are no economists in there but I assume there is someone in there capable to tot up all the worthless bits of debt papers we have and deduct this legendary €20 Billion euro that is tucked away in some vault. Go to page 39 & 40

http://www.finance.gov.ie/documents/publications/reports/2010/Finacct1.pdf

See the bit at the end on page 40

LESS LIQUID ASSETS - (21,816)
______________________________
NATIONAL DEBT = 75,152

What do you think less liquid assets refers to, Pints of Guinness and Carlsberg at a Think In?
 

GDPR

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How many times have I proven you wrong now? 100? 500?

Do you log on to Neurology forums and glibfully blast about knowing the ins and outs of medulla oblongatas to other posters like you pretend to know economics around here?

This is a link from the place were your shower of clowns reside in the Department of Finance. There are no economists in there but I assume there is someone in there capable to tot up all the worthless bits of debt papers we have and deduct this legendary €20 Billion euro that is tucked away in some vault. Go to page 39 & 40

http://www.finance.gov.ie/documents/publications/reports/2010/Finacct1.pdf

See the bit at the end on page 40

LESS LIQUID ASSETS - (21,816)
______________________________
NATIONAL DEBT = 75,152

What do you think less liquid assets refers to, Pints of Guinness and Carlsberg at a Think In?
I think the DoF don't post on P.ie, that's what I think.

What about the possibility of NAMA bonds?

Sorry, one last edit. You've never proven me wrong, au contraire.
 

grafter1

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Well our cash pile is being eroded by the second. Close to €1,000 per second. But we're fine.

I just hope the ECB keeps its appetite for Irish paper in January 2011 when we return to the market because only those dopes would lend us money at this point.

Major oversubscriptions for Irish bonds lie ahead for 2011!
 

Cassandra Syndrome

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Any chance that would be NAMA bonds at all and no, it isn't, not by the doomsayers on here anyway.
NAMA Bonds?

Its classified in the central bank data as liquid short term loan.
 


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