UK weighs billions of loans to Ireland



Anglo Celt

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It's gone beyond insult at this point. It's a pathetic shambles we're in, an utter embarrassment which must have FF in pieces having to go cap in hand to the evil Brits to help them out. Sorry Sir, we ballsed it all up. Can we come back?
 

Anglo Celt

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True enough. One things for sure, my forefathers have been thoroughly vindicated. rome rule and economic disaster, all true to their word.

 

Superindigoman

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Getting cash from the british, well, lets look upon it as compensation for the hideous crimes the british commited here over a very long period of time, lets take it and not pay it back, should have gotten it of them a long time ago.
 

Green eyed monster

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True enough. One things for sure, my forefathers have been thoroughly vindicated.

So much rubbish being spouted about this issue today...

Some examples 'give them Donegal', 'give them Louth', 'will we have to join the Commonwealth'.... blah blah - the answer is no... We won't even have to raise our corp tax. We have them by the balls as much as they have us... We are only going through so much pain because for some reason FF have made it so we have to pay the private debts of Anglo-Irish - monies owed to UK/French/German banks, FF are utterly corrupt and incompetent - whatever factors they are considering now are probably no more in all our best interests than when they made that guarantee.
 

conservative green

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Also ironic considering just a few months ago the UK state owned bank HBOS announced a pullout from their Irish operations.
 

johnfás

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Also ironic considering just a few months ago the UK state owned bank HBOS announced a pullout from their Irish operations.
Pity for them that they can't move out. They closed their lending but they are rebranding their operations pretending that they aren't here - they'll be here for decades to come.
 

Scipio

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True enough. One things for sure, my forefathers have been thoroughly vindicated. rome rule and economic disaster, all true to their word.

You are absolutely pathetic.

I presume Greece should return to Turkey, Iceland to Denmark, Latvia to Russia and Portugal to Spain by such logic? Or perhaps, given the scope of a worldwide economic and governmental crisis, all the aforementioned nations could try to get their finances in order and come back anew.
 

McDave

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Getting cash from the british, well, lets look upon it as compensation for the hideous crimes the british commited here over a very long period of time, lets take it and not pay it back, should have gotten it of them a long time ago.
The only thing is their media will never let you forget it.

For me it's all about perception and national confidence. It'll probably be a generation before we can win a respectable reputation, assuming we do a lot right in the meantime.
 

Scipio

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While motivated out of understandable self-interest, Britain had better hope she gets her cash back.

Call me cynical, but it doesn't look like the UK is doing much better than its neighbour. It's true, Ireland's in trouble. And yes, it's going to cost us all. As the Guardian reported, the cost to the UK taxpayer of bailing out the Irish economy will be in excess of £7bn. Not only this, but other EU countries such as Portugal already fear Ireland's toxic debt will have a contagion effect. But in many ways, the UK is in a worse situation.

Though Ireland's debt is undoubtedly huge (£90bn), it's a drop in the ocean compared with both the UK's current national debt (£950bn) and the total personal debt of UK households (£1,457bn). Estimates suggest that by 2015, the average debt of every household in the UK will amount to more than £70,000 – almost three times the current national average household income. At present, 1,753 people in the UK are made redundant daily, while 787,000 people have been unemployed for more than 12 months. In 2009, a property was repossessed every 10 minutes. Every four minutes, someone in the UK is declared insolvent.
UK is little better than Ireland economically | Deirdre Duffy | Comment is free | guardian.co.uk
 

Dasayev

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Getting cash from the british, well, lets look upon it as compensation for the hideous crimes the british commited here over a very long period of time, lets take it and not pay it back, should have gotten it of them a long time ago.

Yes we should not forget how they ruined the country in the 1800s

Lecky
The years between 1779 and 1798 were probably the most prosperous in Irish history, and the generation which followed the Union was one of the most miserable.
John O'Connell MP
The terms of the Act of Union had expressly stipulated that Ireland should not be subjected to bear any of the burdens of the debts of England contracted before 1800—the incumbrances of the two nations being at the time very disproportionate; and the principle was recognised on all hands that the annexed country ought not to be saddled with any of the debts of the annexing country.

The funded and unfounded debts of England were then 420,000,000l., and those of Ireland about 28,000,000,l. Ireland, it was agreed, should contribute two-seventeenths to the imperial expenditure; and even Lord Castlereagh admitted that this proportion was too large. The stipulation was to be maintained so long as there was an absence of certain contingencies; and, in the event of either of these, the erasure of the national debt or the improvement of the circumstances of Ireland, until there was complete equality in wealth between England and Ireland, taxation was to be made equal, and the imperial incumbrances were to be borne in the same proportion. Neither of these contingencies had arisen; on the contrary, the debt of Ireland, by legislative mismanagement and injustice, had increased out of all proportion. In 1800 it was 24,000,000l., and in 1817 it was 120,000,000l.; the increase altogether being 59 per cent for England, and about 300 per cent for Ireland; and yet it was declared that a casus had been made out for a consolidation of the Exchequers, and that the time had come when taxation ought to be made equal. The consolidation of the Exchequers had been accomplished in direct violation of the terms of the Act of Union, and all the subsequent financial measures founded upon that consolidation were, in consequence, as completely illegal as they were grossly unjust.

Ireland, it might be, had failed to contribute equally; but no good reason could be shown why she should have done so. England had failed to maintain, by separate taxation, the separate liabilities imposed on her by the Act of Union; and the result of the policy of Parliament had been to make Ireland bankrupt, thus crippling one country while they crushed the other. Whatever happened to increase the expenditure of England, operated in absorbing every available shilling from Ireland. He calculated that since the Union Ireland had paid 60,000,000l. more than her proper share, and, on that ground alone, he claimed for her the consideration of this country in a period of distress, not as a grant of charity, but an act of justice. As to separate taxation, England only paid 10,500,000l., while her proper share, according to the interpretation of the Act of Union, was 15,000,000l., and in that estimate he reckoned the income-tax, which was only laid on four or five years ago; so that the fact was, deducting the income-tax, England only paid about 5,000,000l. of separate taxation. It has been asserted that Ireland had had compensation for all this, in an indirect way, since the Union, being free from certain imposts, as the assessed taxes; but he contended that there was no force in that argument, as Great Britain had relieved herself in far greater proportion from those taxes than she had relieved Ireland. In the aggregate, Great Britain had relieved herself from 47,000,000l., while she had relieved Ireland from only 2,000,000l. of the same taxation.

All this time Ireland paid the expenses of her civil and military establishments; for, although defrayed out of the Consolidated Fund, it came out of that part of the fund which was produced by Irish money. The remittances from the British Exchequer to Ireland, since the Union up to January 1, 1845, had only been 7,500,000l., while the total remitted from the Irish Exchequer to the British had been 26,700,000l., being a balance of 19,200,000l. in favour of Ireland, or, adding to the remittances since 1845, a total excess of remittances from Ireland of 19,789,591l.
 

Bleu Poppy

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Getting cash from the british, well, lets look upon it as compensation for the hideous crimes the british commited here over a very long period of time, lets take it and not pay it back, should have gotten it of them a long time ago.
Now, let's see, the last time the Irish State tried that, in the 1930's, it led to a thing call 'The Economic War' and we ended up paying what was owed far more speedily than was envisaged in the Treaty.

Stop being so facile... the Clowen, Lennie, De Bert, all those who have sat around the Cabinet table over the past twelve and a half years are responsible for the greatest act of treachery ever seen by this country. And that's taking into account the refusal by the minority to accept the legitimate decisions of the Second and Third Dáil's.
 

Jakey

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C

Cass

True enough. One things for sure, my forefathers have been thoroughly vindicated. rome rule and economic disaster, all true to their word.

We just have to look at the North, you know that sectarian hell-hole where walls separate neighbours, you know the place that just about avoided a civil war and could easily explode again, that place which the English taxpayer has bailed out every year since its creation, to see to what the rest of Ireland would be like had it stayed in the UK.

You should move there. I doubt you would like it though.
 

Chrisco

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Oh good heavens, how predictable! "We might be bust but ye are just as bad!" Really, how thoroughly embarrassing. If the Irish are to be bailed out by the British then, for pity's sake, take the Queen's shilling with a bit of grace.
It also happens to be written by someone who appears to be basically economically illiterate, not understanding the difference between deficit and debt, nor realising that any British 'cost' of an Irish bailout will only arise in the event of an Irish default, otherwise it'll turn a handy profit.

I have to say I find the level of ignorance of basic economics (and I am no economist) among left-wing commentators to be pushing my own economic views increasingly to the right.
 

darkknight

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[ame=http://www.youtube.com/watch?v=WkhIQsNShUs]YouTube - UKIP Nigel Farage on Ireland and the crumbling Euro project (16Nov10)[/ame]
 


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