News Ireland on the brink of financial meltdown

[Punishment]

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.

They tend to fluctuate wildly when you pay 50bn to bail out afew banks , which is double irelands GDP so it will make the figures much different , + you can't treat all states the same as some run a different system , plain figures mean very little

 

[cHodAX]

Latest from the BBC...

The BBC's business editor Robert Peston said that much hinged on the stance of the European Central Bank (ECB) - which has propped up the Irish Republic's banking system with loans it could not get on the money markets.

"Without the financial support of the ECB, Ireland would be bust right now," he said.

"But if there is the faintest sign that the ECB wants to withdraw the succour it has provided to weak eurozone banks, Ireland will no longer have a choice, it will have to go cap in hand either to its EU partners or to the IMF."

 

[cHodAX]

Looks like Ireland have been bullied to giving in and excepting a bail-out they don't need all for the sake of market confidence. The Irish people are about to be crippled with billions more in interest payments over the decades, thier government is selling away the future of the next generation who with be lumbered with high taxation just to pay off the the loans defaulted on by Irish property developers.

Damn shame.

BBC News - Irish Republic to get bail-out loan, says central bank