Greeks offered 1 billion infrastructure sweetener to sign up to further cuts

dynamick

http://www.google.com/hostednews/afp/article/ALeqM5hzqTx4cYS61-KGlY0r-qkknckXog?docId=CNG.db25368943b3c3d1220c1d25a8fe359d.241

I had wondered if there was any chance of this in Ireland. The EU could for example guarantee Irish PPP projects as a form of stimulus or it could part fund major infrastructure projects.

greyed

That would be an excellent turn of events In the meantime they could drop their insistance on using capital from the NPRF and the sale of state assets to cover dead-weight banking debt.

FlameoftheWest

greyed wrote: »

That would be an excellent turn of events In the meantime they could drop their insistance on using capital from the NPRF and the sale of state assets to cover dead-weight banking debt.

Become an eternal debt slave state for a wee train line?

dowlingm

A billion for Ireland is nothing in the overall scheme of things of debt heading for 200bn, and if it's for infrastructure at least some of that will be spent on imports like steel. That's like the people wanting the EU to reduce the interest rate when it's the capital that's going to crush the country.

PPP projects are dead - no company's banker in their right mind would back it. It's exchequer funding or nowt, and I think even contractors working on direct payment would be worried about getting paid by government these days given that infrastructure is a multi-year endeavour.

greyed

FlameoftheWest wrote: »

Become an eternal debt slave state for a wee train line?

Im not sure I understand you. Any money that can be used to stimulate the economy should be, this short term boost would help us meet long term goals. I am talking about the situation as it stands, we are currently committed to the bailout so we are already debt slaves. Whether this will sink us remains to be seen, but the necessary cuts are more viable with some stimulus on the side, no?

OurLadyofKnock

greyed wrote: »

Im not sure I understand you. Any money that can be used to stimulate the economy should be, this short term boost would help us meet long term goals. I am talking about the situation as it stands, we are currently committed to the bailout so we are already debt slaves. Whether this will sink us remains to be seen, but the necessary cuts are more viable with some stimulus on the side, no?

Yes and once the money arrives it'll be either be used to bring back the regional airport subsidies, the next working group study for the WRC, or perhaps a pay off to NAMA tycoons. At the very most a half-assed airport DART spur.

Nice idea in principle - but this is Ireland and being the kind of boiled cabbage sucking yeehaws which control this dead nation I would not have any faith in them to spend this money on something needed. It would not go to either a Metro or the DART Underground I can promise you that. No matter how much extra they had to spend. The rural TD clinics is were Irish government policy begins and ends. Money was is not the issue - the GAA county jersey is.

Pete_Cavan

OurLadyofKnock wrote: »

Yes and once the money arrives it'll be either be used to bring back the regional airport subsidies, the next working group study for the WRC, or perhaps a pay off to NAMA tycoons. At the very most a half-assed airport DART spur.

Nice idea in principle - but this is Ireland and being the kind of boiled cabbage sucking yeehaws which control this dead nation I would not have any faith in them to spend this money on something needed. It would not go to either a Metro or the DART Underground I can promise you that. No matter how much extra they had to spend. The rural TD clinics is were Irish government policy begins and ends. Money was is not the issue - the GAA county jersey is.

So rather than giving us money, they could just guarantee PPP projects, as dynamic suggested.

And if they are willing to give money to Greece (a country where The national railroad has annual revenues of 100 million euros against an annual wage bill of 400 million) to invest in infrastructure, they may even build the rest of the WRC for us. Greece almost makes IR look efficient!

Sponge Bob

Mother of ****. The Greek railways were running a debt of €1bn a year after passenger revenue of €100m and subventions of €500m, mostly interest payments on their enormous debt.

I doubt anything other than the Athens Metro and airport line will survive the IMF