Follow @PoliticsIE
 
 
 
Page 1 of 7 12345 ... LastLast
Results 1 to 10 of 61

Thread: Total cost of Irish Bank Bailout - €50bn++

  1. #1
    Politics.ie Member Dreaded_Estate's Avatar
    Join Date
    Sep 2007
    Posts
    3,695
    Mentioned
    0 Post(s)

    Default Total cost of Irish Bank Bailout - €50bn++

    This may not be news but it is worth seeing all the figures together.

    The total cost of the Irish bank bailout looks like it is going to easily top €50bn.

    The estimate provided by the DoF is for €46.26bn



    But this excludes the €3.3bn additional that AIB will need bringing the total to €49.56bn.

    But it also excludes the interest on the promissory notes.

    This will add at least another €8bn to the total bringing the total to €57.56bn.

    This excludes any potential cost from NAMA and the worst case scenario from Anglo which could add another €10bn to the total.

    So overall we are looking at cost somewhere between €55bn and €65bn.

    That puts the range at somewhere between 42% of GNP and 50% of GNP.

  2. #2
    Moderator
    Join Date
    Oct 2008
    Posts
    17,119
    Mentioned
    0 Post(s)

    Default

    The people who put us on the hook - elected representatives and 'higher' civil servants - should be out on their ear.
    "It is difficult to get a man to understand something when his salary depends upon his not understanding it." - Upton Sinclair.

  3. #3
    Politics.ie Member LeDroit's Avatar
    Join Date
    Mar 2010
    Posts
    1,771
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Dreaded_Estate View Post
    That puts the range at somewhere between 42% of GNP and 50% of GNP.
    Ah, but the important letters are 'N' and 'D'. If you don't live in Ireland those stats mean nothing.

    Adios suckers!
    "A govt big enough to give you everything you want, is strong enough to take everything you have" Thomas Jefferson

  4. #4
    Politics.ie Member
    Join Date
    Jul 2006
    Location
    Somewhere between Akureyri and Ushuaia
    Posts
    8,999
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by He3 View Post
    The people who put us on the hook - elected representatives and 'higher' civil servants - should be out on their ear.
    Not only are they not behind bars (which is what I assumed you meant by your euphemistic ear), they think they have the right to commit our country to another four years of failure, just like the four year plan, and the one before that.

  5. #5
    Politics.ie Member Squire Allworthy's Avatar
    Join Date
    May 2007
    Location
    Usually on the move.
    Posts
    1,404
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Dreaded_Estate View Post



    So overall we are looking at cost somewhere between €55bn and €65bn.

    It takes exceptional talent to run up losses of this magnitude.

    To do so and remain in office requires spectacular ability.

    Or it tells me all I need to know about the Irish political system and the senior civil service. Are concepts like accountability and accepting responsibility alien in the land of Ireland?

    The Minister of Finance should accept responsibility and resign as should his predecessor. Those advising need to be purged by whoever follows.

  6. #6
    Politics.ie Member Social Conscience's Avatar
    Join Date
    Oct 2010
    Location
    Clare
    Posts
    1,273
    Mentioned
    0 Post(s)

    Default

    Great (if depressing) thread. Where online can I get to view/print this document?
    From great tragedy emerges great art.

  7. #7
    Politics.ie Member Hewson's Avatar
    Join Date
    Apr 2009
    Location
    On the horizon
    Posts
    8,329
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by Squire Allworthy View Post
    It takes exceptional talent to run up losses of this magnitude.

    To do so and remain in office requires spectacular ability.

    Or it tells me all I need to know about the Irish political system and the senior civil service. Are concepts like accountability and accepting responsibility alien in the land of Ireland?

    The Minister of Finance should accept responsibility and resign as should his predecessor. Those advising need to be purged by whoever follows.
    The short answer is yes. It's a peculiarity I think is unique to this country and I could never figure out quite why. Maybe it's just a historical legacy from the days when we survived by our wits and spent most of our lives trying to dodge any backlash from our British rulers for our misdeeds.

    I can really think of no country, other than dictatorships, where such catastrophic incompetence and misrule could go unpunished.
    Abortion is an act of violence. Violence demeans humanity, particularly violence against women and children.

  8. #8
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default

    At least the banks will start lending again to SMEs in the middle of a "depression" where consumers disposable income will reduce considerably.

    Interesting how many SMEs will prepare projections for the next 4 years showing growth !!!!!

    €60,000 million down the drain......................

  9. #9

    Default

    I always said €100 Billion including NAMA and opportunity cost.

    Even if the insolvent banks could lend, people and businesses are too saturated with debt to borrow any more. Its simply mathematically impossible to service between 500% and 1000% of your income. The only debt free people are the shrewdies who will definitely never borrow now, Pensioners or young cubs.

    Its the same in the States, Bernanke doesn't get it. He can go through QE3, QE4 to infinity, but people and firms simply do not want to borrow. So all he is doing is creating hyperinflation.
    “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

  10. #10
    Politics.ie Member hammer's Avatar
    Join Date
    Jul 2009
    Location
    Olympic Stadium
    Posts
    58,469
    Mentioned
    1 Post(s)

    Default

    ..........and interest rates will only be going in one direction very shortly.

    Upwards very quickly

    As if people will load up on debt. Pay no-one instead seems to be the policy.

Page 1 of 7 12345 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •