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Thread: How much of Ireland's debt are we pretending is off-the-books?

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    Default How much of Ireland's debt are we pretending is off-the-books?

    According to the NTMA, IRELAND'S national debt was 75.2bn at December, 2009 (up from 50bn the year before).

    Since then we will have added half of a 20billion structural deficit and Anglo irish 24bn as well as a couple of billion in bank recapitalisations?

    My questions:
    1. What is ireland's official debt today?
    2. What real debt rate are the markets using?
    3. Do the markets count the debts of semi-states, local authorities, special purpose vehicles, potential nama losses and the ultimate cost of the guaranteed banks? What are there figures?
    4. By how much will the cost of borrowing rise if we renew the bank guarantee?
    5. Do our political class really think that keeping debt off the books, fool the markets?

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    Politics.ie Member kerdasi amaq's Avatar
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    Where do the twits, who are borrowing that money , think that Ireland is going to get the funds to repay those borrowings?
    Last edited by kerdasi amaq; 16th August 2010 at 07:44 PM.
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    Quote Originally Posted by kerdasi amaq View Post
    Where do the twits, who are borrowing that money , think that they are going to get the funds to repay those borrowings?
    But that's the genius of it. The twits borrowing it won't have to repay it! Their policical rivals will have to! It's the most cynical way to do things, but they know they've lost the next GE, they're laying the groundwork for the one after that, when FG/Lab will be hated much more than FF are now.

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    Quote Originally Posted by Congalltee View Post
    1. What is ireland's official debt today?
    http://www.ntma.ie/home.php In the top right-hand corner, €85.316bn
    Bank-account-money is created and spent by banks as tickets for government issued money that they don't have. Stop banks issuing their own money.

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    Quote Originally Posted by kerdasi amaq View Post
    Where do the twits, who are borrowing that money , think that Ireland is going to get the funds to repay those borrowings?
    they are hoping that it will happen in the same way the debt was paid off in the 80s

    if I recall correctly the FG/Lab govt of 82 to 87 doubled the national debt and Mac the Knife came in after the 87 election and cut everything in sight which is credited in laying the foundation for the.....boom

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    Didn't the government try to keep the Anglo cash off the books but ultimately get blocked by the EU. Don't think most of that will show up until next year.

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    Politics.ie Member Furze's Avatar
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    Quote Originally Posted by TODevastated View Post
    they are hoping that it will happen in the same way the debt was paid off in the 80s

    if I recall correctly the FG/Lab govt of 82 to 87 doubled the national debt and Mac the Knife came in after the 87 election and cut everything in sight which is credited in laying the foundation for the.....boom
    How much of that debt was private corporate debt - some PMPA and ICI maybe.
    Now the toxic debt is being heaped on us and in gratitude we should give our captains of industry our remaining state assets to profit by.
    Oh and in the future, our captains of industry will need those assets controlled by NAMA at the then market value with a suitable mark-down.
    Mammy, get the hammer there's a fly on daddy's head.

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    Politics.ie Member kerdasi amaq's Avatar
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    I think the twits have outsmarted themselves. The Irish economy of the future simply will not generate the revenue to pay off those debts, let alone the interest.

    P.S. The Irish People will repudiate the debt the politicians are contracting by emigrating. Though, I suppose, Fianna Fáil won't care; as it is the foundation stone of their electoral success.
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    Politics.ie Member HarshBuzz's Avatar
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    don't forget the NAMA effect




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    Politics.ie Member A view from England's Avatar
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    Quote Originally Posted by FakeViking View Post
    But that's the genius of it. The twits borrowing it won't have to repay it! Their policical rivals will have to! It's the most cynical way to do things, but they know they've lost the next GE, they're laying the groundwork for the one after that, when FG/Lab will be hated much more than FF are now.
    Labour did the same in the UK. A scorched earth policy to in an attempt to ensure that any incomming Government would have to take extreme action in order to sort out the mess.

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