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Public Spending: -€20bn a year, Banks: -€1.5bn a year


firefighter

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Sep 21, 2010
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334
This is the real issue facing this country. The banks are going to cost us €30bn to €40bn over 20 to 30 years.

While everyone is caught up in an "Anglo Irish Bank" rant, little do they realise that it's our public services that need to go on a cold turkey diet. Of course it suits the unions perfectly for everyone to be transfixed about headline banks and headline bankers/property developers.
 

GDPR

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This is the real issue facing this country. The banks are going to cost us €30bn to €40bn over 20 to 30 years.

While everyone is caught up in an "Anglo Irish Bank" rant, little do they realise that it's our public services that need to go on a cold turkey diet. Of course it suits the unions perfectly for everyone to be transfixed about headline banks and headline bankers/property developers.
True, but it's not just the unions, the opposition & the media make a fair hand at it as well.
 

firefighter

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Sep 21, 2010
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True, but it's not just the unions, the opposition & the media make a fair hand at it as well.
Agreed.

The salaries of teachers, nurses and the gardai are going to have to be looked at. We simply can't afford the highest paid public servants in the world.

Teachers in their early 20s starting on €31k is unsustainable.
 

Oblivion.

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Public Spending: -€20bn a year, Banks: -€1.5bn a year

Public spending: Schools, hospitals, police, teachers, libraries, utilities, transport, justice system, armed services, national security, nursing homes....



Banks: Nation-wrecking cockroaches.







I know which one I'd rather my money went to.
 

Mossy Heneberry

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Jun 10, 2009
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3,841
Agreed.

The salaries of teachers, nurses and the gardai are going to have to be looked at. We simply can't afford the highest paid public servants in the world.

Teachers in their early 20s starting on €31k is unsustainable.
the last people's whose salary should be cut are the Gardaí, nurses, firemen and teachers.

How about abolishing 75% percent of qaungos first and top civil servants?
 

firefighter

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the last people's whose salary should be cut are the Gardaí, nurses, firemen and teachers.

How about abolishing 75% percent of qaungos first and top civil servants?
I agree. It's going to have to be across the board.

Another "pension levy" is a great way of achieving this.
 

goosebump

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May 23, 2008
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the last people's whose salary should be cut are the Gardaí, nurses, firemen and teachers.

How about abolishing 75% percent of qaungos first and top civil servants?
Which quangos?
Which Civil Servants?
How much will this save?
 

making waves

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Mar 2, 2010
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The salaries of teachers, nurses and the gardai are going to have to be looked at. We simply can't afford the highest paid public servants in the world.

Teachers in their early 20s starting on €31k is unsustainable.
There are very few newly qualified teachers who get remotely close to 31k. Newly qualified teachers usually get part-time hours if they are lucky enough to get any work. I have been teaching for nearly six years after spending 15 years working in another job. After losing my job I did what the government tell people do - I retrained as a teacher. After nearly six years I still don't earn 31k and I still earn less than my previous job.

N.B. Irish public sector workers are not the highest paid in the world.
 

DeGaulle 2.0

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DCon

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The banks will cost a lot more.

As I tried to point out in the Fionnan Sheahan thread, the cost of bailing out the banks is not just the interest that we will have to pay on additional debt for the next 10 years, it is the face value of this debt, plus the interest.

If our borrowing has to increase by 30 billion so we can bail Anglo out, the full cost is 30 Billion + 10 years interest on 30 Billion. If the 30 Billion is never repaid, we will be paying interest on it forever.

The government/Fionnan Sheahan/FF hacks on here line that bailing out the banks is a one-off fixed cost is a complete lie.
 

ballbag12

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Oct 2, 2010
Messages
12
Agreed.

The salaries of teachers, nurses and the gardai are going to have to be looked at. We simply can't afford the highest paid public servants in the world.

Teachers in their early 20s starting on €31k is unsustainable.
you lot in the private sector have some balls of steel doctors solicitors builders developers bankers wreckeked this state while ps workers many on less than 30k what about the google workers on 72 k alot has to be sorted on all sides dont forget teachers teach yor kids and nurse care for u when sick ?????:evil:
 

firefighter

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you lot in the private sector have some balls of steel doctors solicitors builders developers bankers wreckeked this state while ps workers many on less than 30k what about the google workers on 72 k alot has to be sorted on all sides dont forget teachers teach yor kids and nurse care for u when sick ?????:evil:
Did you forget to mention all the private sector labourers, cleaners, men in white vans, caterers who supply the said schools and hospitals?

What about all the agency nurses and agency lecturers where 30% of their wage goes on "fees"? They don't have the enjoyment of permanent employment and final salary pensions like the colleagues they work alongside.
 

DeGaulle 2.0

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The banks will cost a lot more.

As I tried to point out in the Fionnan Sheahan thread, the cost of bailing out the banks is not just the interest that we will have to pay on additional debt for the next 10 years, it is the face value of this debt, plus the interest.

If our borrowing has to increase by 30 billion so we can bail Anglo out, the full cost is 30 Billion + 10 years interest on 30 Billion. If the 30 Billion is never repaid, we will be paying interest on it forever.

The government/Fionnan Sheahan/FF hacks on here line that bailing out the banks is a one-off fixed cost is a complete lie.
You misunderstamd.

Suppose the cost is 30 billion - you can hand over 30 billion today, or you can borrow 30 billion and pay it back (to pay it back over 20 years at 5% interest would be about 2.635 billion per year for 20 years). The point is that there is only one Anglo and one 30 billion (or whatever the final figure is) to pay.

The deficit is an ongoing problem. Excluding the banks, we will spend 20 billion more than we receive in tax this year. We will probably do much the same next year. It is like a new Anglo materialising every 18 months.
 

irish_bob

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Joined
Jul 9, 2008
Messages
7,588
This is the real issue facing this country. The banks are going to cost us €30bn to €40bn over 20 to 30 years.

While everyone is caught up in an "Anglo Irish Bank" rant, little do they realise that it's our public services that need to go on a cold turkey diet. Of course it suits the unions perfectly for everyone to be transfixed about headline banks and headline bankers/property developers.
1st of all let me say im a big supporter of cutting public spending , public sector wages and wellfare are still way too high but i firmly believe those who make comparisons between the cost of public spending and the anglo bailout do a huge diservice to the cause of a leaner fitter state , public spending is an important issue but the bailout of anglo is a catastrophe of epic proportions , to dismiss the cost of the bank bailout as being no worse than the cost of wages to guards and wellfare for grandma is not only obscene , its incredibly stupid
 

DCon

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May 5, 2009
Messages
5,901
You misunderstamd.

Suppose the cost is 30 billion - you can hand over 30 billion today, or you can borrow 30 billion and pay it back (to pay it back over 20 years at 5% interest would be about 2.635 billion per year for 20 years). The point is that there is only one Anglo and one 30 billion (or whatever the final figure is) to pay.

The deficit is an ongoing problem. Excluding the banks, we will spend 20 billion more than we receive in tax this year. We will probably do much the same next year. It is like a new Anglo materialising every 18 months.
Is all government debt not issued as bonds which are repaid at par?
 

bkeith

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Apr 17, 2010
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you lot in the private sector have some balls of steel doctors solicitors builders developers bankers wreckeked this state while ps workers many on less than 30k what about the google workers on 72 k alot has to be sorted on all sides dont forget teachers teach yor kids and nurse care for u when sick ?????:evil:
What about the thousands of Gardai and secondary school teachers and other well paid ps workers. who bought multiple properties during Boom, are they not just guilty as the greedy developers ?
 

firefighter

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Sep 21, 2010
Messages
334
1st of all let me say im a big supporter of cutting public spending , public sector wages and wellfare are still way too high but i firmly believe those who make comparisons between the cost of public spending and the anglo bailout do a huge diservice to the cause of a leaner fitter state , public spending is an important issue but the bailout of anglo is a catastrophe of epic proportions , to dismiss the cost of the bank bailout as being no worse than the cost of wages to guards and wellfare for grandma is not only obscene , its incredibly stupid
This is not a public sector/private sector debate. The reality is that nurses, gardai and teachers are overpaid. Even if we disagree on whether they're overpaid or not, the fact is that we can't afford them. It's not fair to cut back on public services to those who pay tax to Government so as to maintain salaries.
 

firefighter

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Sep 21, 2010
Messages
334
What about the thousands of Gardai and secondary school teachers and other well paid ps workers. who bought multiple properties during Boom, are they not just guilty as the greedy developers ?
I know one particular "B post" teacher (i.e. assistant principal - you can look up his salary on the TUI website. Remember he has a master's degree paid for by the State and works in a "disadvantaged" school and therefore gets extra money).

Anyway, he's currently on paid "sick leave" due to stress. He is up to his eyeballs in property-related debt. Saw him outside a cafe in Clontarf reading the newspaper with his dog there a few weeks ago. 11 o'clock on a weekday morning. 09 Avensis parked across the road. Probably on his way back from his morning stroll down on Dollymount.
 

DeGaulle 2.0

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Is all government debt not issued as bonds which are repaid at par?
That is beside the point. How you pay the 30 billion or whatever it is for Anglo doesn't matter. There is only 1 Anglo Irish bank. There is an annual deficit.
 
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