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42% of entire Euro zone crisis paid for by Ireland according to Eurostat
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That is because Irish Banks screwed up more than any other bank out there, and our GDP is smaller than Germany, other countries put more money in than Ireland, so it is stupid to say Ireland is footing 42% of the bill.
I am beginning to think you are Joe Higgins with all the rhetoric you are spouting.
Spindle, with due respect:
1. You are falling back into the trap of "the Irish did...", without factoring in the gambles made by other foreign delinquent gambling houses. This is an untruth by omission - see my earlier point regarding the Big Lie.
2. Whatever way you want to twist it, you still not escape the critical point that Irish citizens are paying per capita many many multiples more than other EU citizens. This is financial persecution for the sins of financial institutions.
3. Alas no, I'm not Joe Higgins, though I take comment as a backhanded compliment, even though I consider myself pro-business
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Fratton Fred wrote: »great, but that doesn't make the problem miraculously go away. It was still a problem created in this country.
It was created here and abroad by people working in private businesses and also by the Irish government yet you want the Irish taxpayer to foot the total bill.Fratton Fred wrote: »Just as a brewery is to blame when a drunk driver kills someone? the banks provided funding to good credit worthy banks. Those banks then lent it to people to build stupid projects that were not sustainable.
Why a lot of these debts are being repaid I have no idea, but you can't simply put your fingers in your ears, point to Germany and blame them. Ireland is in debt due to the mismanagement, corruption and pure greed that was in existance before and during the celtic tiger.
Wrong, and wrong again.
I never blamed Germany so stop making things up.
I apportioned blame to foreign banks including German banks. German banks are owned by their shareholders who may be German, Irish, or Iraqi. German bank does not equal Germany. :rolleyes:
Ireland is mainly in debt due to taking on private debt.Fratton Fred wrote: »er, when did I claim the Irish people are to blame? I have made it very clear who I think is to blame and unfortunately that means that the rest of us are paying.
I know, it sucks, so lets point the finger in the right place rather than the bogey man foreigner?
So if the Irish people aren't to blame why do you want them footing the bill?
And I'm not pointing the finger at the "bogeyman foreigner" because if you actually bothered reading my posts I pointed out where certain Irish people and institutions were to blame.
You just don't understand that people who loan money have a responsibility and have to acknowledge that there is a risk involved in lending. You don't always get your money back.Fratton Fred wrote: »actually my point was that the creditors would come looking for their money back and this would be from the banks assets.
And as stats shown in this thread indicate that over 80% of mortgages are being paid so banks were getting their money back there and of course the rest would and still are open to possible seizure of assets. But you're claim that every asset on a failed bank's book would be seized was bizarre beyond belief.Fratton Fred wrote: »the truth it, no one knows, but it could affect people's own properties. Can a bank demand it's money back anytime? I'm not sure, it might be able to.
No, it can't. When a loan/mortgage is agreed there is a repayment plan and so long as that is kept to, the bank cannot seize the asset. Basic stuff. :rolleyes:Fratton Fred wrote: »well its not Sean Quin or his family that's for sure.
They have had assets seized and been declared bankrupt. And what was Anglo-Irish Bank have his family in court trying to recover assets hidden abroad.
Again, this has been covered by the media. You should tune into the news some time.Fratton Fred wrote: »HMV is a record/book shop. AIB, BofI, etc are fundemental to our way of life. If they go bust it would cause a complete meltdown of the banking sector in this country.
What does that mean? who knows? No one gets paid, shops can't trade yes, the ATMs run out of cash (after all, the main banks have gone, so who is going to run them? people lose their pensions, life savings etc.
Maybe the government could step in and help?
who does the government bank with? who does your local council bank with?
As painful as it is, you can't have a banking meltdown, our way of life is too dependant on it
Not all banks in the state were given money by the taxpayer. There were other banks for people to turn to, and new banks would have replaced the failed ones. It's what happens in a capitalist society.
People's deposits, afaik, were guaranteed by the state.
ATMs would not have run out of cash as AIB and BoI do not control the supply of money.Surely you can see a difference between saving a chain of music stores and an entire banking sector?
Yes, but the entire banking sector didn't fail. See above.Didn't you tell is yesterday that we are being forced to pay 20bn to the United States?
No, I posted a link to an article which showed that our current government are a bunch of cowards who are giving over 20Bn that they don't need to.
There is no legal obligation on the government to pay that 20Bn, they are just stealing our money.0 -
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Lenihan decided it was the best way forward under massive pressure from the ECB chief. Illegal pressure I would say. He acted far beyond his mandate and the voters showed him and his party what they thought of his unilateral move by obliterating the party at the next elections. I don't think they even have a representative in the capital, what once was the largest and oldest party in the country.Fratton Fred wrote: »er, they did, and they decided a blanket guarantee was the best way forward.
This is a fairly impressive piece of intellectual contortion from fred which as usual boils down to it's entirely Ireland's fault, and so on and so forth.So if the Irish people aren't to blame why do you want them footing the bill?
And I'm not pointing the finger at the "bogeyman foreigner" because if you actually bothered reading my posts I pointed out where certain Irish people and institutions were to blame.0 -
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