The €22bn hole

[Eorna]

Well sure I meant to differentiate who was loaning the money as distinct from individuals on the bond markets.

Many people don't quite understand that if it wasn't for the ECB loaning all the money we simply wouldn't be able to raise it, at least not at current rates. This has lead a number of people into thinking we can just borrow like this forever.

If the ECB let us go to the wall, the idea that the Euro is a stable currency goes with it. There would be a good chance that Italy and Greece would start heading towards bankruptcy as well. The Euro would be dead.

Now that would be an interesting section in a future history book.

[Jock_the_Waster]

Well sure I meant to differentiate who was loaning the money as distinct from individuals on the bond markets.

Many people don't quite understand that if it wasn't for the ECB loaning all the money we simply wouldn't be able to raise it, at least not at current rates. This has lead a number of people into thinking we can just borrow like this forever.

gotcha, I just want anyone scanning to be aware

these zanu-ff'ers are very good at brainwashing, alot of their magic 25% think we are 'getting bailed by Europe'

The Media are doing nothing to dispel this myth

[Noel Dwyer]

maybe well can all take a romantic view of it if the IMF come in in a few years time. Sitting around the fire with candles telling stories due to no electricity. I've often thought maybe it'd be good if we went back to when life was simple!

[smartjon]

Unfortunately the simple life is running(ruining)the country

[hopi watcher]

I find it incredible that people don't comprehend the sheer size of the hole we're looking at. It's like it's so big they can't see it. €22bn is a truly staggering amount of money to need to raise even as a once off - if we were doing €22bn worth of road building this year for example it would be considered an extraordinary stimulus package. Instead we're spending that just to meet daily expenses.

People seem to think we'll just find €20bn or so in loose change down the back of the sofa. A new tax band here, a wealth tax there and it'll all be fine.

You are the only one saying that only certain groups must carry the can, everyone else is seeking a fair share out of the burden with those that can afford it doing most of the heavy lifting. It is the civilised and sensbile way out of the FF/PD created mess. BTW I just have to ask, who or what do you think you are 'sharper' than?

[libertarian-right]

There are only 6 countries in the world with that level of national debt Zimbabwe 240%, Japan 170%, Lebanon 164%, Jamaica 124%, Singapore 114% & Italy 104%.

I think people need to read this again...and again. We'll be experiencing a high debt burden soon enough, another thing to add to this depression. We need to cut and cut now. Abolish/merge the quangos in a cost benefit analysis period of 6months. That's at least half the deficit gone.

[sharper]

You are the only one saying that only certain groups must carry the can, everyone else is seeking a fair share out of the burden with those that can afford it doing most of the heavy lifting.

We've already established that your idea of "fairness" is the public sector maintaining their salaries and benefits in perpetuity with everyone else paying for it.

If 10 guys go out to dinner and 7 have the salad with a glass of water while 3 have a 5 course meal with all the lashings and expensive wines it's not "fairness" to spread the tab equally. This is exactly what you propose each and every time. You're convinced one of the lads having a salad might have some more money if you turn him upside down and shake him for a bit but it's just not true.

Every analysis we have says the public sector is too expensive for our economy. We also don't have the money to pay for it.

And throughout all of it nobody is showing how we get €22bn extra in taxes.

[hopi watcher]

We've already established that your idea of "fairness" is the public sector maintaining their salaries and benefits in perpetuity with everyone else paying for it.

If 10 guys go out to dinner and 7 have the salad with a glass of water while 3 have a 5 course meal with all the lashings and expensive wines it's not "fairness" to spread the tab equally. This is exactly what you propose each and every time. You're convinced one of the lads having a salad might have some more money if you turn him upside down and shake him for a bit but it's just not true.

Every analysis we have says the public sector is too expensive for our economy. We also don't have the money to pay for it.

Stop telling lies. I have repeatedly advocated that the burdened be fairly shared with those most vulnerable protected and those that can, carrying more of the burden. Your little stories are charming but childish.
Every analysis does not show that our public sector is 'too expmnssive for out ecomony' In fact, the most recent report concluded the reverse is the case, we have one of the leanest Public Sectors in Europe.

[sharper]

In fact, the most recent report concluded the reverse is the case, we have one of the leanest Public Sectors in Europe.

Which report is this?

[hopi watcher]

Which report is this?

Do you know anything about this subject, anything at all?