Does Ireland need a Jubilee?

Merrion

An interesting idea, the rolling jubilee fund are buying US debt at pennies in the dollar and tearing up the contracts - should Irish charities do something like this?

Could this even work here?

Big Bottom

What does that even mean?

reginald

mmm good question, that would be an ecumenical matter imo

Senna

Even for a basket case like Ireland, our debt is still being bought for high rates, nowhere near a couple of cents on a euro.

Rigol

so wait...we give the govt money.....so we don't have to give the govt money.

all while giving the govt money

Fr_Dougal

reginald wrote: »

mmm good question, that would be an ecumenical matter imo

Nope.

dj jarvis

if it was possible then why not do it , if the debt was bought for a cheap price

every little helps

Merrion

Rigol wrote: »

so wait...we give the govt money.....so we don't have to give the govt money.

all while giving the govt money

Ideally the charity or fund or whatever would buy some debt (this reducing the bank or government debt exposure) and relinquish the contract this freeing the debtor to allow them to become a functioning member of the economy again.

This in turn would reduce the default risk of all the other debts making them cheaper to service.

EoghanIRL

The little skangers and scum bags could go there

dj jarvis

Rigol wrote: »

so wait...we give the govt money.....so we don't have to give the govt money.

all while giving the govt money

i see what ya done there

but , you are missing out the social justice and solidarity side to this

does not matter who receives the money , it matters who's debt is cancelled ,
and if a random donation of 10 euro makes this a reality , then if you can you should

Wacker The Attacker

Merrion wrote: »

An interesting idea, the rolling jubilee fund are buying US debt at pennies in the dollar and tearing up the contracts - should Irish charities do something like this?

Could this even work here?

Who is going to pay for this exactly?

Sorcha16

What Ireland needs is a miracle

im invisible

yeah, definitely

face1990

im invisible wrote: »

yeah, definitely

Ah, that's what those things are called!

squod

Similar discussion on the Keiser report last night. Must be great being the laughing stock of most of the developed world Enda........

https://www.youtube.com/watch?v=-Jp9eRisyh0

policarp

Yes. . .
A good clip around the ears. . .