What is a bailout?

Fides

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Just heard Eamonn Ryan say we won't be getting a bailout we will be getting a loan (and one we might not even use!!!)

Perhaps what we need is a definition of a bailout.

After all wherever the IMF give money they expect it back - they are all loans. By Eamonn Ryan's definintion neither Greece nor Latvia actually had a bailout. Except for countries which have had debt foregiveness therefore no country has ever received a bailout in recent times.
 


nonpartyboy

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A bailout is where your banks are running out of money, a loan is where you don't really need it but might like to remain in the life you have become acustomed to.

What do you think we're getting ?
 

Fides

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A bailout is where your banks are running out of money, a loan is where you don't really need it but might like to remain in the life you have become acustomed to.

What do you think we're getting ?
Your definition doesn't work. Plenty of people get loans and do need them to buy a house or car say. All countries borrow and it is not a bailout. There has to be a difference to what we are doing.

I think we're going into some type of examinership/administration where we are forced to make changes if we want to continue in existence. And the people pulling the strings are the ones lending us the money.
 

Social Conscience

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Eamonn Ryan is talking out through his hole as usual............its as simple as this the EU/IMF cannot give a loan to any national bank(s). They give a bailout to a country who can in turn 'pump/lose' that money by ploughing it back into the financial sector.

Is it too much to expect any TD from the government parties to just call a spade a spade?
 

Fides

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Eamonn Ryan is talking out through his hole as usual............its as simple as this the EU/IMF cannot give a loan to any national bank(s). They give a bailout to a country who can in turn 'pump/lose' that money by ploughing it back into the financial sector.

Is it too much to expect any TD from the government parties to just call a spade a spade?
Apparently we have to find a new word for spade. As long as interviewers mention the word bailout they will deny a bailout. After all he is correct, we have to pay back the loan. It happens to be a loan with serious conditions attached and the lender has the right to look at all our books and tell us what to do. They are the lender of last resort as such.
 


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