News Ireland on the brink of financial meltdown

[cHodAX]

BBC News - Anglo Irish Bank support to cost up to 34bn euros

Looks like Ireland is in a really bad way, their debt is crippling to the point where it is 30% of GDP every year. Negative growth at 1.2% in the last quarter, that is only margainally better than how Greece is doing. If Allied Irish Bank goes tits up I can see another EU intervention to further prop up an economy they are already helping beyond what is right.

 

[Vasconcelos]

And still the same sun rises everyday...

Tbh im starting to get tired of this crisis. The only difference it made from me till now is that im totally unable to find a different job than my current one

 

[Lamp]

I think we're all going to have to take a bite out of the dog-shit sandwich before it picks up. And it will bounce back. And then X years from now they'll be another global recession. All you can do is make sure you're wearing clean underwear.

 

[ECA]

The crash will happen again, steps to fix the problem havn't been taken and we're so inherently stupid as to believe once the good times come back that this time it'll be different.

Financial bubbles have been happening for centuries and we're still stupid.

 

[tierk]

Apparently its the Labour Parties fault and that evil Gordon Browns fault...

 

[ECA]

Apparently its the Labour Parties fault and that evil Gordon Browns fault...

Only about 40% or so ^^ ( for the uk ) no idea who's fault it is in Ireland.

 

[Ch3tan]

Apparently its the Labour Parties fault and that evil Gordon Browns fault...

It's down to Leprechauns in Ireland. In the UK we had no gold reserves to bail us out in the hard times (when gold was at a record high), in Ireland they can't find their reserves.

 

[cHodAX]

More news on the subject, we thought we were fucked in the U.K. but Ireland are in a far far worse state. Can't say I am suprised when you look at the cost of living and housing there, state benefits are at absurd levels just to keep people housed and fed.

BBC News - Irish deficit balloons after new bank bail-out

 

[cHodAX]

Basic unemployment benefit in Ireland is nearly 2.5 times that of the U.K. rate iirc. 200 euros a week. Madness.

 

[Ingafgrinn Macabre]

cHodAX - \TSJO-daks\
NOUN, m:
A person so proficient at scaremongering, one could
say that ~ brought this to an art.

 

[cHodAX]

The sky is burning!!

 

[ECA]

At least link to the FH version

 

[Tuthmes]

If you have to Photoshop it, do it with FUFUFUFUFUFUFUFUFUFU tbh.

 

[Ch3tan]

The FH version of that pic is just plain awesome. It should be Cho's avatar, the dirty spinster

 

[Vasconcelos]

 

[cHodAX]

The FH version of that pic is just plain awesome. It should be Cho's avatar, the dirty spinster

The evil eye is staying, had it 7 years and it ain't changing now, not even for the finger hanging itself which is another old favourite of mine!

 

[Cerb]

Thank fuck I pissed off to America

 

[cHodAX]

Thank fuck I pissed off to America

We thought the same! The smell ain't so bad after a 3000+ mile journey across the atlantic!

 

[Helme]

Thank fuck I pissed off to America

Except that the US has 90% of their GDP in debt and steadily rising.

Woops.

 

[cHodAX]

Except that the US has 90% of their GDP in debt and steadily rising.

Woops.

Does that mean they might take the debt out on Cerb's bumhole?

 

[Lethul]

Apparently its the Labour Parties fault and that evil Gordon Browns fault...

What ? I thought the current economic state was all thanks to Sweden's harsh right wing government ?!? Thats what the flyer's said

 

[Cerb]

We thought the same! The smell ain't so bad after a 3000+ mile journey across the atlantic!

Does that mean they might take the debt out on Cerb's bumhole?

You're Just jelous!

I actully got a job within 48 hours of being here!


....pity its waiting tables right now

But hey the money is ok. Some nights I make as much as $75 for like 2 hours work

 

[cHodAX]

Some nights I make as much as $75 for like 2 hours work

Yeah blowjobs out the back can pay well.

 

[cHodAX]

Looks like someone is trying to further de-stabilise the Irish economy. Would love to know who this 'other player' is and why they are so determined to see Ireland take the handout that effectively puts them into a debt that could take 50 years to clear.

BBC News - Irish resisting EU bail-out pressure

 

[Punishment]

The irish government has been hiding how big the issue is waiting for some random saviour to appear , the current government is desperate to hang onto irelands image of being europes golden child , fucking idiots

They really don't have a clue they have 4 years to pay off 15bn euros they owe and they intend to pay half it with the budget coming next month , which will cripple spending , put people out of work and generally make the economy so deflated that we may aswell all stay in bed .

 

[Ingafgrinn Macabre]

List of sovereign states by public debt - Wikipedia, the free encyclopedia

Just a summary...

Rank | Debt as % of GDP | Country

1 | 282.60 | Zimbabwe
2 | 189.30 | Japan
6 | 115.20 | Italy
7 | 113.40 | Greece
9 | 107.60 | Iceland
11 | 97.60 | Belgium
16 | 77.50 | France
17 | 76.90 | Portugal
19 | 72.10 | Germany
22 | 68.10 | United Kingdom
27 | 62.20 | The Netherlands
36 | 57.70 | Ireland
47 | 52.90 | United States of America

Stop whining and do some research before crying wolf.
This took me about 20 seconds to find.

 

[Punishment]

Thats outdated

 

[Ingafgrinn Macabre]

Thats outdated

It is, data is from 2009, but 2010 new data won't become public until halfway 2011 orso. And it's not like these numbers fluctuate wildly, atleast not since 2009 since that's after the grunt of the stock drop.

 

[cHodAX]

It is, data is from 2009, but 2010 new data won't become public until halfway 2011 orso. And it's not like these numbers fluctuate wildly, atleast not since 2009 since that's after the grunt of the stock drop.

Eh? Who is crying wolf? It is common knowledge that Ireland is in pretty bad shape economically right now, I have alot of family there and it is fucking brutal for many of them at the moment. Three cousins have lost jobs, my uncle Marc is just about managing to survive on 1/4 his normal income from his decorating firm but has laid off 80% of his staff. It is not crying wolf to state the seriousness of the problem but as I said above someone is pushing buttons here and trying to force Ireland into taking a handout they just about don't need and could not afford to pay off for at least a few decades.

 

[cHodAX]

Since 2008, the Irish Republic has suffered a dramatic collapse of its property market.

House values have fallen between 50% and 60% and bad debts - mainly in the form of loans to developers - have built up in the country's main banks, bringing them to the verge of collapse.

The country has promised the EU it will bring its underlying deficit down from 12% of economic output to 3% by 2014.

Its current deficit is an unprecedented 32% of gross domestic product, if the cost of bad debts in the Irish banking system is included.

Says it all really, the defecit is 32% of GDP and the national debt is huge. The bank bailout cost the goverment over 45 billion euros alone mainly in bad debts to property developers.