the UK offers to loan £10bn to R.O.I.

MatteH Oxford said:
The UK isn't paying it's debt btw, it's slipping further & further into the red & has been for years!. If we print money to dilute the relative (real) value of that debt.........that's how wars start isn't it?
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Use the term "service" if you prefer. The point is that we have plenty of businesses that still make money and still pay taxes and so are a safer bet to lend money to. Hence our debt is much cheaper than Ireland's debt.
 
RDM said:
Use the term "service" if you prefer. The point is that we have plenty of businesses that still make money and still pay taxes and so are a safer bet to lend money to. Hence our debt is much cheaper than Ireland's debt.
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WTF?!

Ireland still has 'plenty of businesses that make money & pay taxes' itelf, the difference is that the European bank is in control & wouldn't print (enough) money to bail them out.

The UK printed it's own (£200 billion) via the Bank of England, but that hasn't fixed the problem of UK debt, it's just kicked the can further down the road.

It remains to be seen if the UK itself will require further money printing (more than likely), to call Ireland bankrupt is hypocritical!!
 
Always knew those Paddy jokes had a bit of truth in them, the country is ruined, let the Euro die, its a stupid currency, long live the £ :D

PIGS are doomed
 
MatteH Oxford said:
WTF?!

Ireland still has 'plenty of businesses that make money & pay taxes' itelf, the difference is that the European bank is in control & wouldn't print (enough) money to bail them out.

The UK printed it's own (£200 billion) via the Bank of England, but that hasn't fixed the problem of UK debt, it's just kicked the can further down the road.

It remains to be seen if the UK itself will require further money printing (more than likely), to call Ireland bankrupt is hypocritical!!
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The £200 billion is not just printed money left to do whatever. The 200 billion was used to buy Bonds from the Government, banks and large corporations, so in effect has to be paid back.

And it was never designed to reduce UK debt, it was to stop the risk of deflation in the medium term, because interest rates were/are as low as is possible, and so not an option for the MPC.

To clarify, the £7bn offered to Ireland by the UK is on top of its contribution to the IMF towards the joint IMF/EU wide bailout package.
But the greatest irony of all is that Ireland actually has £20bn squirreled away, enough to pay its debts until well into next year! After the markets got a hint of bailout though, there was no chance of it not happening.
 
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Gideon Lorr said:
The £200 billion is not just printed money left to do whatever. The 200 billion was used to buy Bonds from the Government, banks and large corporations, so in effect has to be paid back.

And it was never designed to reduce UK debt, it was to stop the risk of deflation in the medium term, because interest rates were/are as low as is possible, and so not an option for the MPC.

To clarify, the £7bn offered to Ireland by the UK is on top of its contribution to the IMF towards the joint IMF/EU wide bailout package.
But the greatest irony of all is that Ireland actually has £20bn squirreled away, enough to pay its debts until well into next year! After the markets got a hint of bailout though, there was no chance of it not happening.
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Get out of here. You sound like you know what you're talking about, and we won't stand for that.
 
I have no sympathy whatsoever, a country with a minimum wage of nearly 12 euro an hour and dole payments that are in excess of what some people earn in the UK in a full time job? Tsch, serves them right for wasting the funds they had.
 
unlike Ireland, we can still go out to the bond market, and borrow 10 billion at 2%, then lend it to Ireland at 5%

then that 300 basis points profit. Makes business sense

cha ching!
 
Banks and Financial Corporates cause chaos, normal people pick up the Tab, somehow the Banks profit creating big bonuses, it all seems so familiar somehow...
 
The best statisitc was that of the £150 billion owed by ROI banks to British banks, 40% of that came from RBS. Wonder why the treasury wants to act like baines and ernst all of a sudden
 
Lucero said:
£10bn to rid the world of gingers is a pretty good deal. Take it I say!
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The RACISM has to end!!!

Coppercab, who many believe to be the Martin Luther King of the red haired peoples of the world, is leading the struggle for the oppressed. Get learned!

 
Gideon Lorr said:
But the greatest irony of all is that Ireland actually has £20bn squirreled away, enough to pay its debts until well into next year! After the markets got a hint of bailout though, there was no chance of it not happening.
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that's not irony, that's just plain ridiculous (if true) why do they need a loan then?
 
Gideon Lorr said:
The £200 billion is not just printed money left to do whatever. The 200 billion was used to buy Bonds from the Government, banks and large corporations, so in effect has to be paid back.

And it was never designed to reduce UK debt, it was to stop the risk of deflation in the medium term, because interest rates were/are as low as is possible, and so not an option for the MPC.

To clarify, the £7bn offered to Ireland by the UK is on top of its contribution to the IMF towards the joint IMF/EU wide bailout package.
But the greatest irony of all is that Ireland actually has £20bn squirreled away, enough to pay its debts until well into next year! After the markets got a hint of bailout though, there was no chance of it not happening.
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Yes it'll be nice for markets to buy up huge chunks of those loans in bonds at nice high interest rates.
 
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