The bailout won't be €100 billion!

LowIQ

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According to liar Brian Lenihan, the bailout won't be €100 billion.

He was probably telling the truth in that the bailout will not be €100,000,000,000.00 exactly. It will be some other amount. Maybe in his mind it could have been €1 more or €1 less, and he still would have been telling the truth.

However, the Guardian, quoting NamaWineLake, agrees that the bailout will not be €100,000,000,000.00. It is more like twice that amount, ie €200 billion! Irish bailout: could the bill exceed
 


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He said on Radio 1 on Sunday it wouldnt be anywhere near 60 Billion. Talk about moving the goalposts every day!
 

SideysGhost

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He said on Radio 1 on Sunday it wouldnt be anywhere near 60 Billion. Talk about moving the goalposts every day!
And he was quite accurate. €200bn is, after all, nowhere near €60bn.

Have ye not figured out Lenny's modus operandi yet? Every single word him or Cowen say is a fuppin LIE. You just have to learn how to parse the text to spot the lies lurking behind what might look on the surface to be a plausible statement. He's some boyo for the "hide it in plain sight/Big Lie" technique, is our Lenny.
 

firefly123

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200 billion????

Can we not just insure the entire country and then burn it to the ground. I promise you the fire brigade will all be reporting sick that day!
 

Magellan

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And he was quite accurate. €200bn is, after all, nowhere near €60bn.

Have ye not figured out Lenny's modus operandi yet? Every single word him or Cowen say is a fuppin LIE. You just have to learn how to parse the text to spot the lies lurking behind what might look on the surface to be a plausible statement. He's some boyo for the "hide it in plain sight/Big Lie" technique, is our Lenny.

Hey, he's a barrister!

Masters of doublespeak and semantics.
 

Nipper

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He said on Radio 1 on Sunday it wouldnt be anywhere near 60 Billion. Talk about moving the goalposts every day!

He will just claim that he meant 50bn for the state and was excluding the 150bn contingency fund for the banks as it was not going to be needed :)
 

Holy Cow

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The national debt will be €250 billion when this is all done and dusted. Maybe even more.
 

HarshBuzz

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it'll be North of 200 billion

excellent piece here which explains why
 

Harmonica

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As Lenihan himself said its easy to work out. 3 years of budget deficits is lets say 50bn + whatever the banks need for the next 3 years.

I saw 90bn quoted yesterday which seems a lot more accurate than 200bn. 200bn would mean increasing the national debt to 300bn by 2014 which will be impossible to repay.
 

HarshBuzz

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As Lenihan himself said its easy to work out. 3 years of budget deficits is lets say 50bn + whatever the banks need for the next 3 years.

I saw 90bn quoted yesterday which seems a lot more accurate than 200bn. 200bn would mean increasing the national debt to 300bn by 2014 which will be impossible to repay.
Q: where do you replace the banks' Central Bank liquidity from when no-one will lend to the banks?

it was 165bn at the last count (undoubtedly increased since)
 

constitutionus

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And he was quite accurate. €200bn is, after all, nowhere near €60bn.

Have ye not figured out Lenny's modus operandi yet? Every single word him or Cowen say is a fuppin LIE. You just have to learn how to parse the text to spot the lies lurking behind what might look on the surface to be a plausible statement. He's some boyo for the "hide it in plain sight/Big Lie" technique, is our Lenny.
yup.

seriously if he said the sky was blue i'd run out to check !

if he's saying its NOT going to be 100 billion then i think the 125 one mooted is on the money

:)


i mean christ when i heard him say "it wont be a three figure sum" my first thought was ************************ me not a TRILLION !
 

DownTheSwanny

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Would the IMF be interested in paying the unemployed to leave Ireland.... say €2000 to leave and not come back for a couple of years, lets face it we are heading fast for half a million on the dole within months.
It would make sense, no benifits to pay and at least it would be something for Ireland to sell..... its citizens.
Last one out switch off the lights.
 

Social Conscience

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Listening to Drivetime on Radio 1 yesterday evening the figure of €250 BILLION was mentioned.

Any takers on €300 BILLION???
 

Outlander

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Anyone want to consider stress testing the economy?

Who's going to be in charge of slipping the Valium into the drinking water supply?
 

dent

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Whatever figure it is, the new Government HAS to come out with the figure, when they take over.
 

Partizan

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Just how the funk are we goin to repay 200 - 300 Billion?
Nota chance. It's not a question of 'if' we default, its a metter of when. The contagion to the other PIIGS has spread and the ECB wont have the funds to bail them out unless it turns on the printing presses. Doing that will seriously weaken the euro, introduce inflation and eventually its demise.

The euro is dead.
 

Civic_critic2

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According to another rational and impassioned rant on youtube by JB Yeats our total external debt as a country as of June 2010 was around 155 billion euros, consisting of 90 billion general government debt and 65 billion debt to the monetary authority, i.e. the NTMA. These are not figures he put together but are the figures from the CSO. The actual tabulated data from the CSO can be seen here in google quick view: ireland's external debt.

However hose figures do not contain the following: 44 billion given to NAMA and what he estimated at 60-80 billion euros from the EU/IMF bailout. Making a soon-to-be grand total of 279 billion euros. His estimation of 80 billion euros from the eu/imf may turn out to be an underestimation.

The interest on such a debt at 3% per annum is 9 billion euros. That is 7500 euros per household per year just to pay the debt without even bginning to pay the principal. And that is at 3%, at 5% the interest on that debt is 15 billion a year which is 12500 euros a year per household.

Here is JB Yeat's video, the figures are at 4 mins 30 seconds in:
http://www.youtube.com/watch?v=iWp6QIEeSzY

Apparently those who rule us believe that the problem can be solved by taking 1 euro per hour off those on the minimum wage and reducing social welfare to drive as many out of the country as possible who might otherwise cost them money or challenge them politically.

We are broke and will default, that is simply a mathematical inevitability. What is occurring now in government is about politics. We must overturn this government before any budget and before any deals are done. We will most likely only be able to accomplish this by physically removing them from the dáil.
 

NAMAwinelake

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On Vincent Browne's show last night (from 37 minutes in) Minister of State John Moloney said that "at worst" the national debt may end up "in excess of €200bn". He may the latest in a long line of innumerate ministers but if he's right then the bailout is definitely going to be more than €100bn.

Here's the link to Vincent's show-

Tonight with Vincent Browne - TV3
 


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