I dont think them nations under write any of their own debt, thats why Ireland is paying billions, not cause they spent the money but because through complicated banking they move their debts onto countries like Ireland/Greece.
When Ireland needed a loan, the UK underwrote it on their behalf. UK could secure it for 5% and Ireland would have to pay 25%, UK met in the middle and gave it to Ireland for 10%.
UK made money just by underwriting their own loan. However none of the money went to Ireland, it went to Germany in reality.
Germany sees this as normal business, maybe because they are used to other nations underwriting them since the war, I dunno.
Also, no one, and I mean no one in Europe will steal your ideas quicker than the germans. Have a good idea and german business comes to look? You would be mad to show them. They visit universities all over europe to setal ideas. |
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By (user no longer on site)
over a year ago
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"I dont think them nations under write any of their own debt, thats why Ireland is paying billions, not cause they spent the money but because through complicated banking they move their debts onto countries like Ireland/Greece.
When Ireland needed a loan, the UK underwrote it on their behalf. UK could secure it for 5% and Ireland would have to pay 25%, UK met in the middle and gave it to Ireland for 10%.
UK made money just by underwriting their own loan. However none of the money went to Ireland, it went to Germany in reality.
Germany sees this as normal business, maybe because they are used to other nations underwriting them since the war, I dunno.
Also, no one, and I mean no one in Europe will steal your ideas quicker than the germans. Have a good idea and german business comes to look? You would be mad to show them. They visit universities all over europe to setal ideas."
Stealing ideas? I think you might fond China and the USA have a rather more active role than Germany does. If you want an interesting take on this, you should read a book called “how music got free” - it explains how a german academic working for a small university in germany spent millions of euros of the university’s money developing the mp3 standard only to have the USA and Philips in particular step on the idea in favour of their own mp4 standard and how through early adopters of file sharing tech by bootleggers this became the basis of itunes etc and made them a lot of money in the end. Dyson in this country spends most of his profits from his vastly overpriced consumer white goods (made in malaysia) on intellectual property and patents so we aint so clean! |
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