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DimPrawn
17th November 2010, 10:16
UK pledges £7bn to help bail Ireland out of debt crisis - Telegraph (http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8139354/UK-pledges-7bn-to-help-bail-Ireland-out-of-debt-crisis.html)

So, let's get this straight. We MUST cut our own public spending becuase of a record breaking deficit. UK citizens must suffer the pain.

But hey, the Irish, who have been having a whale of a time speculating on property are worthy of £7bn of money we don't have?

You couldn't make this shit up.

kandr
17th November 2010, 10:22
UK pledges £7bn to help bail Ireland out of debt crisis - Telegraph (http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8139354/UK-pledges-7bn-to-help-bail-Ireland-out-of-debt-crisis.html)

So, let's get this straight. We MUST cut our own public spending becuase of a record breaking deficit. UK citizens must suffer the pain.

But hey, the Irish, who have been having a whale of a time speculating on property are worthy of £7bn of money we don't have?

You couldn't make this tulip up.

Well the UK owns a lot of banks that have Irish debt it's all interconnected, domino effect, if Ireland go down it could trigger the end of the world as we know it.

DimPrawn
17th November 2010, 10:23
Well the UK owns a lot of banks that have Irish debt it's all interconnected, domino effect, if Ireland go down it could trigger the end of the world as we know it.

http://www.youtube.com/watch?v=thMm-7RFsm0

:music:

Mich the Tester
17th November 2010, 10:24
As I've said somewhere else, it can't be in Britain's interests to sit back and watch Ireland decline into turd world conditions; some help which can lead to mutual benefits would return both Britain and Ireland a lot more than 7 billion in the future.

DimPrawn
17th November 2010, 10:27
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Sorted.

cailin maith
17th November 2010, 10:27
UK pledges £7bn to help bail Ireland out of debt crisis - Telegraph (http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8139354/UK-pledges-7bn-to-help-bail-Ireland-out-of-debt-crisis.html)

So, let's get this straight. We MUST cut our own public spending becuase of a record breaking deficit. UK citizens must suffer the pain.

But hey, the Irish, who have been having a whale of a time speculating on property are worthy of £7bn of money we don't have?

You couldn't make this tulip up.

:spel a minority of the Irish!

Mich the Tester
17th November 2010, 10:28
:spel a minority of the Irish!

As I understood it, the chief 'borrow-and-not-pay-backers' were an old prime minister and a couple of his cronies.

DimPrawn
17th November 2010, 10:29
:spel a minority of the Irish!

Household Wealth in Ireland to surpass ?1 trillion in 2008: National Irish Bank says there are more Mercedes per capita in Ireland than in Germany where they are made (http://www.finfacts.ie/irishfinancenews/article_1012562.shtml)

Really?

Greedy feckers.

kandr
17th November 2010, 10:30
As I've said somewhere else, it can't be in Britain's interests to sit back and watch Ireland decline into turd world conditions; some help which can lead to mutual benefits would return both Britain and Ireland a lot more than 7 billion in the future.

Precisely, think of how the Mafia operate, they do you a favour which really helps you out of a hole, "really helpful chaps" you think. Its an investment really. We bought Ireland for 7 Billion, buy low sell high.

cailin maith
17th November 2010, 10:31
As I understood it, the chief 'borrow-and-not-pay-backers' were an old prime minister and a couple of his cronies.

Yep.


Household Wealth in Ireland to surpass ?1 trillion in 2008: National Irish Bank says there are more Mercedes per capita in Ireland than in Germany where they are made (http://www.finfacts.ie/irishfinancenews/article_1012562.shtml)

Really?

Greedy feckers.

:ind

vetran
17th November 2010, 10:31
Tell you what we give them £7B they give us Dublin.

Mich the Tester
17th November 2010, 10:34
Tell you what we give them £7B they give us Dublin.

WTF do you want Dublin for? It's got some good pubs, two decent universities and one or two nice buildings, but an awful lot of sink estates too.

I say give them 7 billion on the condition they take that bloody NI off our hands.

vetran
17th November 2010, 10:42
That might work

we would save a fortune not subsidising their politicians.

norrahe
17th November 2010, 10:51
I say give them 7 billion on the condition they take that bloody NI off our hands.

I don't think they could afford to do that :laugh

d000hg
17th November 2010, 11:55
UK pledges £7bn to help bail Ireland out of debt crisis - Telegraph (http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8139354/UK-pledges-7bn-to-help-bail-Ireland-out-of-debt-crisis.html)

So, let's get this straight. We MUST cut our own public spending becuase of a record breaking deficit. UK citizens must suffer the pain.

But hey, the Irish, who have been having a whale of a time speculating on property are worthy of £7bn of money we don't have?

You couldn't make this tulip up.This is a topic for grownups to discuss, it's not like when your mate ate his sweeties too fast and wanted some of yours.

AtW
17th November 2010, 12:09
It makes sense to do it - should Ireland fall then it would affect interest payments paid by Govt and BoE would have to print more money. Considering amount of "QE" already done and in pipeline this £7 bln is peanuts.

At least Ireland and Greece actually CUT public sector proper - real cuts in salaries.

Troll
17th November 2010, 12:16
It makes sense to do it - should Ireland fall then it would affect interest payments paid by Govt and BoE would have to print more money. Please explain the logic behind that statement

CheeseSlice
17th November 2010, 12:24
Tell you what we give them £7B they give us Dublin.

We should also get in on their 'Free Cheese' thing.

Mmmmm.. cheese

AtW
17th November 2010, 12:31
Please explain the logic behind that statement

"Cost of National Debt: The cost of National debt is the interest the government has to pay on the bonds and gilts it sells. In the first six months of 2010, the debt interest payments were £21.6bn, suggesting an annual cost of around £43bn (3% of GDP)"

Source: UK National Debt — Economics Blog (http://www.economicshelp.org/blog/uk-economy/uk-national-debt/)

So £7 bln is around 2 months worth of UKs interest debt payments. If Ireland falls and its bond holders register losses then it would reduce demand for Govt debt apart from safe heavens (UK isn't one of them - USA might still qualify), so you'd sell less gilts at higher interest rate and also will have to print money to buy unsold gilts from Govt.

Now what EU should do is tell Ireland in certain terms to stop being a legit offshore and increase tax rates for things like corp tax (12% I think) - something like 15-18% would be closer to fair deal and UK should reduce their own to the same level that should be common across all Europe (plus minuse few percentage points).

alreadypacked
17th November 2010, 12:38
WTF do you want Dublin for? It's got some good pubs, two decent universities and one or two nice buildings, but an awful lot of sink estates too.

I say give them 7 billion on the condition they take that bloody NI off our hands.

:spel twenthy five

Mich the Tester
17th November 2010, 13:12
We should also get in on their 'Free Cheese' thing.

Mmmmm.. cheese

More info please. Is it really good cheese?

Ignis Fatuus
17th November 2010, 13:27
"Cost of National Debt: The cost of National debt is the interest the government has to pay on the bonds and gilts it sells. In the first six months of 2010, the debt interest payments were £21.6bn, suggesting an annual cost of around £43bn (3% of GDP)"

Source: UK National Debt — Economics Blog (http://www.economicshelp.org/blog/uk-economy/uk-national-debt/)

So £7 bln is around 2 months worth of UKs interest debt payments. If Ireland falls and its bond holders register losses then it would reduce demand for Govt debt apart from safe heavens (UK isn't one of them - USA might still qualify), so you'd sell less gilts at higher interest rate and also will have to print money to buy unsold gilts from Govt.

Now what EU should do is tell Ireland in certain terms to stop being a legit offshore and increase tax rates for things like corp tax (12% I think) - something like 15-18% would be closer to fair deal and UK should reduce their own to the same level that should be common across all Europe (plus minuse few percentage points).It should be, it has never defaulted. No organisation in the world has gone without default for longer.

Mich the Tester
17th November 2010, 13:36
Cheese again;

Government to let them eat cheese - The Irish Times - Fri, Nov 05, 2010 (http://www.irishtimes.com/newspaper/breaking/2010/1105/breaking22.html)

I see the economic crisis has done nothing for the Irish sense of humour; this is almost CUK'ish in its desperation;


Fine Gael’s agriculture spokesman Andrew Doyle reacted with scepticism to the plan.

“Fianna Fáil and the Greens gouda be kidding,” he said. “People on the breadline would rather the Government’s unfeta’d attention was on solving the economic crisis they caused and providing jobs rather than on this ridiculous announcement."

SupremeSpod
17th November 2010, 13:52
Cheese again;

Government to let them eat cheese - The Irish Times - Fri, Nov 05, 2010 (http://www.irishtimes.com/newspaper/breaking/2010/1105/breaking22.html)

I see the economic crisis has done nothing for the Irish sense of humour; this is almost CUK'ish in its desperation;

I wonder how long it will be before someone draws the inevitable parallels with Trevelyan... :(

cailin maith
17th November 2010, 13:53
Yum cheese :tongue

Never heard of this free Cheese though! Gutted, we're not even going home for Christmas -

:laugh The Baby Cheeses :laugh

SupremeSpod
17th November 2010, 13:57
Yum cheese :tongue

Never heard of this free Cheese though! Gutted, we're not even going home for Christmas -

:laugh The Baby Cheeses :laugh

Christmas in Ireland, no wise men only the baby cheeses! :laugh

AtW
17th November 2010, 13:57
It should be, it has never defaulted.

This means fook all in modern times.

Mich the Tester
17th November 2010, 14:02
Christmas in Ireland, no wise men only the baby cheeses! :laugh

O Christmas brie, O Christmas brie!
Thou brie most fair and dairylea!
Oh Christmas brie, O Christmas brie!
Thou brie most fair and dairylea!
The sight of thee at Christmastide
Spreads hope and gladness far and wide
Oh Christmas brie, O Christmas brie
Thou brie most fair and lovely!

cailin maith
17th November 2010, 14:04
O Christmas brie, O Christmas brie!
Thou brie most fair and dairylea!
Oh Christmas brie, O Christmas brie!
Thou brie most fair and dairylea!
The sight of thee at Christmastide
Spreads hope and gladness far and wide
Oh Christmas brie, O Christmas brie
Thou brie most fair and lovely!

:yay::yay::yay:

Mich the Tester
17th November 2010, 14:26
:yay::yay::yay:

Well it's nice to see a government thinking caerphilly about how to help people in need.

cailin maith
17th November 2010, 14:35
Well it's nice to see a government thinking caerphilly about how to help people in need.

:laugh Nutter!!

SupremeSpod
17th November 2010, 14:35
Well it's nice to see a government thinking caerphilly about how to help people in need.

They're just crackers!

sasguru
17th November 2010, 19:26
What's the problem with giving £7 billion to Ireland? All we have to do is run the printing presses overtime next Sunday. All it costs is James (the guy who runs the presses) and his mate's Sunday overtime - total real cost about £500 for the day.