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Karl Whelan Forbes Opinion Pieces

Comments

  • #2
    CillianL
    Registered Users Posts: 138 ✭✭CillianL


    http://www.trueeconomics.blogspot.ie/2012/10/22102012-is-ireland-special-case-in.html

    This another good article from good oul' Constantin. The term 'Special Case' has been invented by PR consultants to mollify public opinion. When they say Irelands debt is over 100% of GDP that doesn't take into account Irish corporate and private debt which are also at toxic levels.

    All this debt is dead weight on Irish society especially given that the domestic economy is so reliant on consumer spending so at the very least interest will have to be frozen on much of this debt otherwise we'll have to default if we don't want to be paying compounded interest for decades.

    Its a question of who in the eurozone is going to jump first unless Japan doesn't get there first!


  • #3
    wonder88
    Registered Users Posts: 144 ✭✭wonder88


    The Irish Credit Unions played a significant role in the bouble economy we had in Ireland. We also hear from Fianna Fáil figures that the reason they had to gaurantee the debts of Anglo Irish was that there was a lot of bonds owned by credit unions involved.


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