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Thread: Our debt levels are decreasing

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    Default Our debt levels are decreasing

    Even though government debt is rocketing we are collectively deleveraging. We are still the most indebted nation on the planet per capita though.

    http://www.cso.ie/releasespublicatio...ternaldebt.pdf
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    Quote Originally Posted by Cassandra Syndrome View Post
    We are still the most indebted nation on the planet per capita though.
    Very possibly, but you can't really make that conclusion based on the attached. The reason being it includes the liabilities of IFSC banks which really have nothing to do with the debt levels of Irish citizens. A proper international comparison would need to take these out as they distort the picture for countries like Ireland and Switzerland which have an unusually large 'offshore' financial sector compared to size of population.

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    Quote Originally Posted by conservative green View Post
    Very possibly, but you can't really make that conclusion based on the attached. The reason being it includes the liabilities of IFSC banks which really have nothing to do with the debt levels of Irish citizens. A proper international comparison would need to take these out as they distort the picture for countries like Ireland and Switzerland which have an unusually large 'offshore' financial sector compared to size of population.
    Outside of the IFSC, do we not have the highest private debt per person.
    Fianna Fáil
    The Land agents party.

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    Politics.ie Member seanmacc's Avatar
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    Also most of the personal debt is mortgage debt. We don't have the levels of crippling credit card debt they have in the US and UK. The working individual in Ireland who hasn't been hit with too big a pay cut and isn't a compulsive spender isn't too badly off compared to the average Brit or Yank

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    Quote Originally Posted by Eorna View Post
    Outside of the IFSC, do we not have the highest private debt per person.
    do we not? Can you point me to a table?

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    Quote Originally Posted by conservative green View Post
    do we not? Can you point me to a table?


    I was wondering if you knew, let me check, if I can get something more suitable.
    Fianna Fáil
    The Land agents party.

  7. #7
    zebedee bong
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    Our debt levels are way over the top, it looks like giving the corrib gas field is just a drop in the ocean compared with what we must pay up, I mean what would be the interest payment on this... Ireland's external debt rises to €1.69tn - The Irish Times - Wed, Sep 30, 2009

  8. #8

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    Excuse me, but who is guaranteeing all the liabilities of the Irish Banking System?
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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    Quote Originally Posted by Cassandra Syndrome View Post
    Excuse me, but who is guaranteeing all the liabilities of the Irish Banking System?
    Liam Carroll and Seanie Fitz?

  10. #10

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    Quote Originally Posted by conservative green View Post
    Very possibly, but you can't really make that conclusion based on the attached. The reason being it includes the liabilities of IFSC banks which really have nothing to do with the debt levels of Irish citizens. .
    Who picks up the tab for the banking guarantee that was unleashed a year ago?
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

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