Bank Bailout has so far cost Ireland €42 Billion with payments of €1 Billion per year

[jon 1000's of irish f]

sinking...

 

[gerhard dengler]

In an era of prolonged, ultra low interest rates, this country still cannot manage to make a dent in the nominal sum owed.

If sovereign bond rates begin to climb, the interest bill on what's owed will climb

 

[jpc]

So 22 billion is just the interest we paid on what we owe to our "friends" in the EU?

But given the low to no interest rate regime the ECB has imposed how can this be so?

 

[Karloff]

At the very least everyone can agree that the bailout was a statement saying the private sector is more important than public finances because private debt was transferred to public debt - this is not hard to work out.

 

[jpc]

In an era of prolonged, ultra low interest rates, this country still cannot manage to make a dent in the nominal sum owed.

If sovereign bond rates begin to climb, the interest bill on what's owed will climb

And thats the bit I don't get.
Are we still running huge a deficit.
And are we paying far higher interest rates than are available?
There was a comment about the Apple money dropping by 75 million due to negative interest rates.
What are our financial geniuses doing?

 

[Karloff]

FF offered us the wonderful gift of paying 10 times as much for a house and the price for this great thing was a 200 billion national debt, FG offered us the treat of a million third world immigrants and the price is homelessness and a busted health service (Harris admitted on the radio today that 'Ireland's growing population' is the reason for the broken health service).

And we just love FFG don't we?

 

[Anglophile]

FF offered us the wonderful gift of paying 10 times as much for a house and the price for this great thing was a 200 billion national debt, FG offered us the treat of a million third world immigrants and the price is homelessness and a busted health service (Harris admitted on the radio today that 'Ireland's growing population' is the reason for the broken health service).

And we just love FFG don't we?

.......We love the EU who screwed us even more!!!

 

[Tadhg Gaelach]

Should have let the banks sink. Should have had a govt which put the country first before international finance.

Should have marched on the streets in our millions (we still 'believed' in FF black magic at that stage).

Yes, if we had a real government here, it would have let the bank share price fall to nothing - and then buy the banks for the people. Instead, Lenihan and Cowen raped the people for the banks.

 

[Tadhg Gaelach]

At the very least everyone can agree that the bailout was a statement saying the private sector is more important than public finances because private debt was transferred to public debt - this is not hard to work out.

In short, the Irish elites who own the banks are more important that the ordinary people of Ireland. That's because those elites who own the banks also own the state.

 

[Tadhg Gaelach]

And thats the bit I don't get.
Are we still running huge a deficit.
And are we paying far higher interest rates than are available?
There was a comment about the Apple money dropping by 75 million due to negative interest rates.
What are our financial geniuses doing?

Don't worry a chara, the ECB last month announced a new round of Quantitative Easing. That means Fine Gael will be able to borrow a lot more - probably even enough to buy the next election.

 

[jpc]

Don't worry a chara, the ECB last month announced a new round of Quantitative Easing. That means Fine Gael will be able to borrow a lot more - probably even enough to buy the next election.

The cynicism is strong in you TG.
And most likely justified.

 

[Karloff]

.......We love the EU who screwed us even more!!!

The EU didn't force us to bail out the banks. They couldn't have.

Simply no guarantee, protect the public finances. Investors would have been angry but they have short attention spans.