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Thread: List of Property Bubble White Elephants

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    Default List of Property Bubble White Elephants

    This is intended to be a list of white elephant developments with outrageously over blown budgets that will drag at any potential recovery in our economy. Please add your own with examples of alternative projects from Europe or nearby...

    Aviva Stadium, Dublin
    Construction Cost: EUR 410 Million
    Capacity: 51,700

    Millennium Stadium, Cardiff
    Construction Cost: GBP 121 Million
    Capacity: 74,500

    Terminal 2, Dublin Airport
    Construction Cost: EUR 600 Million
    Floor Area: 75,000 square metres

    Terminal 1, Barcelona Airport
    Construction Cost: EUR 900 Million
    Floor Area: 544,066 square metres

    The costs of financing and maintaining these facilities will create upward pressures on other costs and wages in the economy and hamper our competitiveness going forward. How do we CTRL + ALT + DEL our debts and get this show back on the road?
    The future saviour of the Irish Economy: Charles Darwin

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    Politics.ie Member richie268's Avatar
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    Clever boy

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    Politics.ie Member needle_too's Avatar
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    Quote Originally Posted by HanleyS View Post
    How do we CTRL + ALT + DEL our debts and get this show back on the road?
    You don't.



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    Politics.ie Member Aindriu's Avatar
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    What the hell have Barcelona and Cardiff got to do with the Irish economy???
    If you continue to elect idiots in elections, don't be surprised when the result is an idiotic government.

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    Politics.ie Member greengoose2's Avatar
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    Quote Originally Posted by Aindriu View Post
    What the hell have Barcelona and Cardiff got to do with the Irish economy???
    Nothing! The OP is comparing the cost of projects here and abroad.

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    Politics.ie Member Aindriu's Avatar
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    Quote Originally Posted by greengoose2 View Post
    Nothing! The OP is comparing the cost of projects here and abroad.
    We could probably have built them for less than Cardiff & Barcelona. It is the 'brown envelope' that boost the costs here.
    If you continue to elect idiots in elections, don't be surprised when the result is an idiotic government.

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    Remember this guy:

    If there’s the name of one European city on the lips of every metro advocate in Dublin, it’s Madrid. Professor Manuel Maynar Melis, the man behind Madrid’s metro system
    A quick google brought up this from 2003:

    Dublin Metro Could Be Up And Running By 2006 | BUSRAGE

    Melis also had no time for the habit of the State wasting cash on “consultants who consultant with consultants and advisers who advise advisers”, something that has dogged the metro project here from day one. His timeline for consultation and construction is nice and short too, the plans for digging and building could be ready by Feb 2004, with a two to three month consultation period following that, with appropriate changes as a result of consultation being finalised during the following fortnight. After a couple of months of tendering the work, tunnelling could begin, and by November of next year the carriages could be ordered. Stick to that schedule and by the end of 2006 we would have a functioning underground rail system.
    Here we are, approaching the end of 2010, the same overpaid incompetent indecisive gobsh1tes in charge, and nothing done.

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    Politics.ie Member greengoose2's Avatar
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    Quote Originally Posted by Aindriu View Post
    We could probably have built them for less than Cardiff & Barcelona. It is the 'brown envelope' that boost the costs here.
    Good reply. You hit the nail on the head.

    Why didn't you use it earlier instead of making that foolish remark?

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    Politics.ie Member Victor Meldrew's Avatar
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    Quote Originally Posted by HanleyS View Post
    The costs of financing and maintaining these facilities will create upward pressures on other costs and wages in the economy and hamper our competitiveness going forward. How do we CTRL + ALT + DEL our debts and get this show back on the road?
    Consultants and advisor are basically the Mafia here, everyone has to get a slice..

    And while we are at it, what ever happened to the concept of a "limited" company?

    The contents of NAMA should all have been just let go to the wall. Appoint liquidators and either sell off at present value, or, if un sell-able, "Un-develop" the sites.

    Anglo, not of systemic importance, should have been let go under. If the Yanks can do this, why can we, their cheerleaders , not do likewise?

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    Politics.ie Member Pauli's Avatar
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    Quote Originally Posted by Aindriu View Post
    We could probably have built them for less than Cardiff & Barcelona. It is the 'brown envelope' that boost the costs here.
    The "brown envelope" is a Fianna fail Pork Barrel Gobshyte Tax for the beneficiaries of its selective largesse. It can be anything up to a third of a public contract, depending on the audacity of the budget overrun.
    Fianna Fail - The Loss of Sovereignty Party.

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