The Family Silver

[LeDroit]

There is alot of talk here on p.ie, in the media in general and indeed internationally, not least in the rating agencies, about the potential for Ireland to default or simply go bust under the strain of our annual €25Billion exchequer deficit and a potentially €50Billion bank bailout. The merits or otherwise of this opinion is being discussed on other threads so I don't propose to rehash it here.

However, if we reached that point but didn't want to default and call in the EU/IMF, what else could we do? The notion of a sell-off of State assets has been floated in the past few months with Colm McCarthy being tasked with coming up with an inventory.

While there will be some here with entrenched ideological views which would prevent them from ever selling State assets, if we absolutely had to what would bring in the big cash? More importantly, could we even generate €50-100 Billion and really sort out our problems? For example, is there market to sell the rights to all of our future discoveries of natural resources? Could we sell the Healthcare system, lock stock and barrel? Could we have a bag of goodies which could actually sort out our economic problems?

[Barnacle]

Maybe we can auction off our politicians, they obviously think they are worth it !!!

[antiestablishmentarian]

There is alot of talk here on p.ie, in the media in general and indeed internationally, not least in the rating agencies, about the potential for Ireland to default or simply go bust under the strain of our annual €25Billion exchequer deficit and a potentially €50Billion bank bailout. The merits or otherwise of this opinion is being discussed on other threads so I don't propose to rehash it here.

However, if we reached that point but didn't want to default and call in the EU/IMF, what else could we do? The notion of a sell-off of State assets has been floated in the past few months with Colm McCarthy being tasked with coming up with an inventory.

While there will be some here with entrenched ideological views which would prevent them from ever selling State assets, if we absolutely had to what would bring in the big cash? More importantly, could we even generate €50-100 Billion and really sort out our problems? For example, is there market to sell the rights to all of our future discoveries of natural resources? Could we sell the Healthcare system, lock stock and barrel? Could we have a bag of goodies which could actually sort out our economic problems?

Firstly, we've already effectively got rid of our natural resources off the west coast. Secondly, getting rid of the assets would only result in another Eircom fiasco- loss of effectiveness of services and its acquisition by successive financial vultures.

[Outlander]

We could formalise the situation in Leinster house - sell it on as a gentleman's club, with attached casino.

[LeDroit]

Firstly, we've already effectively got rid of our natural resources off the west coast. Secondly, getting rid of the assets would only result in another Eircom fiasco- loss of effectiveness of services and its acquisition by successive financial vultures.

Not necessarily. We can learn the valuable lesson that the Eircom debacle has offered us. Monopolies are bad for everyone whether they be public or private monopolies. In addition, a monopoly which owns the actual infrastructure is particularly bad. We could retain the infrastructure of utilities, the actual pipes and wires while selling off the service to multiple providers. This would increase choice and build competitiveness while keeping the infrastructure safe.

[mr_anderson]

We could formalise the situation in Leinster house - sell it on as a gentleman's club, with attached casino.

Oh Christ no !
I just got a mental image of Harney swinging from a pole

[kerdasi amaq]

Would selling the states assets raise enough money to pay off the national debt? I don't think so. We'd be better off defaulting.

The question needs to be asked, why should the the Irish People assume liability to repay privately contracted debts?

Is there a connection, between the media's publishing distasteful stories about the Catholic Church, and the willingness of Irish politicians to bail out undeserving bankers?

[LeDroit]

Would selling the states assets raise enough money to pay off the national debt? I don't think so. We'd be better off defaulting.

The question needs to be asked, why should the the Irish People assume liability to repay privately contracted debts?

Is there a connection, between the media's publishing distasteful stories about the Catholic Church, and the willingness of Irish politicians to bail out undeserving bankers?

At the end of the day the bank bailout is only a third of the problem. We're running a €25 billion deficit per year every year. Therefore, even without the bailout we'd need to look at this.

What about selling the airports and seaports?

[kerdasi amaq]

You're not going to raise enough money to make a serious dent in Ireland's debt problem.

[Cato]

You're not going to raise enough money to make a serious dent in Ireland's debt problem.

Agreed. We need to seriously start cutting the deficit. Any suggestions? Bring more into the tax net? Raise taxes? Cut spending?