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Irish bank bail out
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Are they still talking about us 'lending' them between £6bn and £7bn?
That's on top of the £5bn the Irish government owes RBS.....
I was always under the impression that as we are not party to the Euro we wouldn't have to bail out any Euro Zone nations.....Well that's what Cameron said about Three months ago....he must learn to read the EU instruction manual. |
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By (user no longer on site) OP
over a year ago
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"Are they still talking about us 'lending' them between £6bn and £7bn?
That's on top of the £5bn the Irish government owes RBS.....
I was always under the impression that as we are not party to the Euro we wouldn't have to bail out any Euro Zone nations.....Well that's what Cameron said about Three months ago....he must learn to read the EU instruction manual."
apparently we're not looking at the bigger picture here. It's ONLY £7bn out of £100bn.
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"Are they still talking about us 'lending' them between £6bn and £7bn?
That's on top of the £5bn the Irish government owes RBS.....
I was always under the impression that as we are not party to the Euro we wouldn't have to bail out any Euro Zone nations.....Well that's what Cameron said about Three months ago....he must learn to read the EU instruction manual.
apparently we're not looking at the bigger picture here. It's ONLY £7bn out of £100bn.
"
Well if Cameron says it's ok....then it must be.
As long as he doesn't forget to get an IOU from Dublin.... |
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By (user no longer on site) OP
over a year ago
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"Oooo if we kept it we could probably afford to fill in the rest of the pot holes still left from last winter  "
or not make cuts to our education system grrrrrr |
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By *abioMan
over a year ago
Newcastle and Gateshead |
"Are they still talking about us 'lending' them between £6bn and £7bn?
That's on top of the £5bn the Irish government owes RBS.....
I was always under the impression that as we are not party to the Euro we wouldn't have to bail out any Euro Zone nations.....Well that's what Cameron said about Three months ago....he must learn to read the EU instruction manual."
I hate ripping pieces straight from newspapers.... this is how the situation is explained brilliantly in the guardian....
"Here are the facts he (chancellor george osbourne) is likely to be basing his thoughts on. Ireland is the UK's fifth largest export market, worth £29bn a year - or 5% of the UK's exports. We trade more to Ireland that we do to China, India, Brazil and Russia combined. Another bit of context is that those exports amount to 2% of GDP.
UK banks also have significant exposure to Ireland. Analysts at stockbrokers Matrix calculated that two banks bailed out by the UK taxpayer – Royal Bank of Scotland and Lloyds Banking Group – had exposures of £57.6bn and £27bn respectively to Irish companies.
So, how could any contribution be made to an Irish bailout? If the IMF stumps up cash, the UK will be on the hook for 4.5% of the total. If the EU uses its emergency €60bn fund, then the UK's share is 13.5%.
The UK is not part of the larger €400bn fund. It seems possible that if this latter fund is the one that the EU partners agree to use, then the UK could end up making a direct loan to Ireland instead - or at least as well as any IMF money used." |
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By (user no longer on site)
over a year ago
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"Are they still talking about us 'lending' them between £6bn and £7bn?
That's on top of the £5bn the Irish government owes RBS.....
I was always under the impression that as we are not party to the Euro we wouldn't have to bail out any Euro Zone nations.....Well that's what Cameron said about Three months ago....he must learn to read the EU instruction manual."
Some of Ireland's largest banks are those now owned by the UK govt.. RBS etc.. and to protect our investment we have to ensure that the Irish banking system doesn't fail which is why the Irish finance minister has said that any bail out will be on their terms, not ours. They know full well that our exposure in the banking sector is very weak and that we have to spend more to retain what we have already spent.
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"Are they still talking about us 'lending' them between £6bn and £7bn?
That's on top of the £5bn the Irish government owes RBS.....
I was always under the impression that as we are not party to the Euro we wouldn't have to bail out any Euro Zone nations.....Well that's what Cameron said about Three months ago....he must learn to read the EU instruction manual."
yes there talking about 7 billion
and that poses a question , if the uk is in debt to the tune of 5 trillion , where do they get the money from to pay for the bail out ?
the same question applies to overseas aid
one can immagine the transaction being as follows , a sends the money to c and its debited from the account of b
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By (user no longer on site)
over a year ago
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"Oooo if we kept it we could probably afford to fill in the rest of the pot holes still left from last winter "
dont be silly far to sensable, spend money at home what are you thinking, what do you thing we are paying tax for, our own benifit, god some people |
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By *ig badMan
over a year ago
Up North :-) |
"Are they still talking about us 'lending' them between £6bn and £7bn?
That's on top of the £5bn the Irish government owes RBS.....
I was always under the impression that as we are not party to the Euro we wouldn't have to bail out any Euro Zone nations.....Well that's what Cameron said about Three months ago....he must learn to read the EU instruction manual.
yes there talking about 7 billion
and that poses a question , if the uk is in debt to the tune of 5 trillion , where do they get the money from to pay for the bail out ?
the same question applies to overseas aid
one can immagine the transaction being as follows , a sends the money to c and its debited from the account of b
"
Its only the same as a couple starting off married. They get a big mortgage for the house. They are in debt, but they budget and still have money to pay for food, gas and electric while still in debt. |
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Our friends are off to Ireland at the end of the month for an auction of property, it is a duplex complex built for 27 million Euros and expected to be sold at auction as individual plots for less than a quarter of the build cost.
Seems like Ireland caught the holiday home building bug just like Spain.
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By *abioMan
over a year ago
Newcastle and Gateshead |
"
Seems like Ireland caught the holiday home building bug just like Spain.
"
sort of... the irish housing boom bubble burst big time......
hence actually loads of new houses built are empty.... |
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By *ig badMan
over a year ago
Up North :-) |
"Our friends are off to Ireland at the end of the month for an auction of property, it is a duplex complex built for 27 million Euros and expected to be sold at auction as individual plots for less than a quarter of the build cost.
Seems like Ireland caught the holiday home building bug just like Spain.
"
There are some real bargains if you look in the right areas. It is still a risk though as its unpredictable if or when prices will rise. |
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By *abioMan
over a year ago
Newcastle and Gateshead |
"A fool and his money are easily parted.
Seems a fitting epitaph for Ireland's economy."
problem will be if irelands ecomony goes belly up it will certainly hurt big time the uk... and at worst it would be probably in the UK's interest not to prop up the irish ecomony....
so greece has fallen, ireland is tetering on the edge... it could be portugal next, spain isn't too rosy... neither is italy's.... |
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By (user no longer on site)
over a year ago
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"A fool and his money are easily parted.
Seems a fitting epitaph for Ireland's economy.
That's why there are no fools in Yorkshire! We hang on to our coin!  "
but you live in yorkshire, surely an oxymoron??  |
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By (user no longer on site)
over a year ago
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"A fool and his money are easily parted.
Seems a fitting epitaph for Ireland's economy.
problem will be if irelands ecomony goes belly up it will certainly hurt big time the uk... and at worst it would be probably in the UK's interest not to prop up the irish ecomony....
so greece has fallen, ireland is tetering on the edge... it could be portugal next, spain isn't too rosy... neither is italy's...."
Maggie said we should have gone into Europe leading the new currency, not sneaking in through the back door.
Seems she was right as we can now wait for Eurozone to fail, bail it out, then go in on OUR terms.
Go Maggie Go!! lol |
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By (user no longer on site)
over a year ago
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"agree, she was brill, till she got power mad at the end, we need another like her to get us out of this mess"
But we do! Her protege, Cam the Man!
Boring Broon and Nightmare Blair had no fookin idea at all.
Dave the Rave will sort us out. No sweat!
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By (user no longer on site)
over a year ago
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_abio ...im an accountant for the last 18 years in ireland (GET YOUR ASS OVER HERE AND SORT THIS MESS OUT) you seem to know what u talking bout ..ps can u give herself a shag also as this downturn in the ecomomy is getting her horny |
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Well after reading this mornings articles on the Irish debt crisis it seems to me that we cannot afford to turn our back on Ireland.
British banks seem to have almost single handedly funded leisure and industry expansion in Eire over the last twenty years.
Between the British banks they are owed over £130 Billion in Irish loans, and many British companies have major investments in Eire.....to the tune of some £35 Billion.
OUCH! |
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By (user no longer on site)
over a year ago
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"Are they still talking about us 'lending' them between £6bn and £7bn?
That's on top of the £5bn the Irish government owes RBS.....
I was always under the impression that as we are not party to the Euro we wouldn't have to bail out any Euro Zone nations.....Well that's what Cameron said about Three months ago....he must learn to read the EU instruction manual."
Never believe anything Dodgy Dave says. |
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'Dave' still maintains that no front line Police Officers will be cut 'On his watch'.....
Even though Five different Chief Constables have said already this week that they will lose up to 20% of Police Officers over the next 30 months.
No wonder he wants to appoint 'Independent' Police Commissioners......and I thought he was against quangos?
Am guessing these new Police Commisioners will all be appointed from within Tory party circles..... |
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By (user no longer on site)
over a year ago
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My brother is a Chief Inspector. The force he is in has to make cuts of £35m. They have identified £28m of this by suspending recruitment for 4 years. This is the equivalent of about 350 police officer posts, 60 PCSO posts and 230 civilian posts. he says that by modernising the force over the last few years they had already drastically cut their budget.He's now being told that the priority is no longer 'keep people safe' but 'manage the budget efficiently whilst keeping people safe'
He's a good copper but he's starting to feel that his hand's are tied up with red tape. |
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"A fool and his money are easily parted.
Seems a fitting epitaph for Ireland's economy."
Quite.
Considering only a few short yrs ago George Osbourne was praising Ireland for her 'economic probity'.
Ireland followed the same model that the Current Govt are claiming will rescue us.... |
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By (user no longer on site)
over a year ago
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Not just Osborne. For yonks our temporary First Minister - His Immensity Eck has been bumming about the 'Arc of Prosperity'.
"SNP Leader Alex Salmond has today called for Scotland to join northern Europe's arc of prosperity, with Ireland to the west, Iceland to the north and Norway to the east all small independent countries in the top six richest nations in the world. In comparison, the UK is 14th and devolved Scotland 18th with similar, oil rich Norway over £12,000 per person better off.
Speaking in Edinburgh today Mr Salmond committed an SNP government to deliver a range of pro-enterprise policies designed to support Scotland's wealth creators and bring greater prosperity across the nation. Mr Salmond said that with an SNP government elected in May next year and a vote for independence within the first term of that government, Scotland would be on track to raise wealth per head by £4000 a year within 10 years, compared to continuing in the UK.
Commenting Mr Salmond said:
"We already know that Scots send £1000 a head south to subsidise a London based government that cannot and will not put Scotland's interests first. This is the cost for each and every one of us today of our membership of the UK.
"But if we continue as we are Scots risk missing out on even more - our share of the prosperity now being enjoyed by small, independent nations our nearest neighbours to our east, our west and our north.
"Scotland can change to a better future and be part of northern Europe's arc of prosperity. We have three countries Ireland to our west, Iceland to our north and Norway to our east - all in the top six wealthiest countries in the world. In contrast devolved Scotland is in 18th place. We can join that arc of prosperity. By matching their success Scotland would be £4000 a head better off. It's time we seized this opportunity.
"With distant London in charge, Scotland will just keep on slipping further behind. London rule means we are competing with these other nations with one hand tied behind our backs.
"But, with independence, and matching the success of Europe's small, powerhouse economies, Scots can, within a decade, enjoy greater wealth - worth £4000 for every man, woman and child in our country.
"I find it appalling that London Labour claims Scotland is uniquely unable to prosper with independence, especially as Ireland, Iceland and Norway all claimed their independence in the 20th century.
"With the right pro-Scottish business policies lower tax, support for innovators and improvements to our national infrastructure and a real Scottish government, we have the potential to deliver for Scotland the same success now being enjoyed by our nearest neighbours. If they can do it, so can we."
Arc of Insolvency mair like.
What a numpty. |
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