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ralphmalph

Ecb Loans To Irish Banks

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http://www.finfacts.ie/irishfinancenews/article_1020901.shtml

According to CIA WFB Irish GDP is 170bill and they have borrowed 83bill from the ECB.

Also just announced was that the deficit in Ireland this year has gone up from 13% to 31% of GDP because of having to provide emergency loans to the Irish banks, so that is another 18% of GDP.

So all in all this year 68% of GDP has been lent to the Irish banks and they are still fubar.

I say it to the Irish when they party, they sure do party.

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http://www.finfacts.ie/irishfinancenews/article_1020901.shtml

According to CIA WFB Irish GDP is 170bill and they have borrowed 83bill from the ECB.

Also just announced was that the deficit in Ireland this year has gone up from 13% to 31% of GDP because of having to provide emergency loans to the Irish banks, so that is another 18% of GDP.

So all in all this year 68% of GDP has been lent to the Irish banks and they are still fubar.

I say it to the Irish when they party, they sure do party.

And in 2009 their non-bailout deficit was 11.8% so their austerity measures are sure doing the trick. Deflation compound debt spiral here we come.

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http://www.finfacts....e_1020901.shtml

According to CIA WFB Irish GDP is 170bill and they have borrowed 83bill from the ECB.

Also just announced was that the deficit in Ireland this year has gone up from 13% to 31% of GDP because of having to provide emergency loans to the Irish banks, so that is another 18% of GDP.

So all in all this year 68% of GDP has been lent to the Irish banks and they are still fubar.

I say it to the Irish when they party, they sure do party.

Surely it's the fault of Thatcher, the USA, the English?

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I say it to the Irish when they party, they sure do party.

It's not funny.

Anyone with a mortgage/other loan or has savings in the UK is paying for that party.

RBS have billions of Irish mortgages in the asset protection scheme, QE is making sure we pay those casino losses for them.

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It's not funny.

Anyone with a mortgage/other loan or has savings in the UK is paying for that party.

RBS have billions of Irish mortgages in the asset protection scheme, QE is making sure we pay those casino losses for them.

83 billion. I guess the surprise is that Irish bonds are held by others.

Any news of the amount of other sovereign bonds held by the ECB?

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83 billion. I guess the surprise is that Irish bonds are held by others.

Any news of the amount of other sovereign bonds held by the ECB?

The Irish government got the pension funds to buy sovereign and bank bonds... I just read the funds show a negative 2% return as opposed to a +6-8% required return, a deficit the Irish government will have to make up for eventually. The Spanish are playing the same game, using pension funds. I suspect it's happening just about everywhere, it's even being legislated at the European level IIRC: pensions are being clearly sacrificed for the greater good in this crisis.

Edited by _w_

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It's not funny.

Anyone with a mortgage/other loan or has savings in the UK is paying for that party.

RBS have billions of Irish mortgages in the asset protection scheme, QE is making sure we pay those casino losses for them.

Because the Irish Govt is playing the same game as our govt paying unemployed people large benfits to pay the mortgage, the default rates in Ireland are not that bad at the moment. So the fees that RBS are paying the govt to insure the potentially bad loans are more than compensating at the moment. So it is actually the Irish taxpayer paying for the bad loans that RBS made because thier govt is paying the mortgages of the Irish people that can not.

Edited by ralphmalph

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Because the Irish Govt is playing the same game as our govt paying unemployed people large benfits to pay the mortgage, the default rates in Ireland are not that bad at the moment. So the fees that RBS are paying the govt to insure the potentially bad loans are more than compensating at the moment. So it is actually the Irish taxpayer paying for the bad loans that RBS made because thier govt is paying the mortgages of the Irish people that can not.

But if our banks didn't have all these bad foreign debts do you think we would still have had to QE?

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But if our banks didn't have all these bad foreign debts do you think we would still have had to QE?

QE was to fund our govt borrowing, BoE QE'ed money bought UK gilts from UK banks which then bought new issued UK gilts.

QE should be renamed the Great Big Brown Ponzi Scheme.

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QE was to fund our govt borrowing, BoE QE'ed money bought UK gilts from UK banks which then bought new issued UK gilts.

QE should be renamed the Great Big Brown Ponzi Scheme.

Yes and it's helped to drive interest rates down. Those rates have resulted in savers being paid less but mortgagees and businesses have not had their rates cut by as much i.e. margins are higher. Therefore people in the UK are paying for the banks casino losses.

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The Irish government got the pension funds to buy sovereign and bank bonds... I just read the funds show a negative 2% return as opposed to a +6-8% required return, a deficit the Irish government will have to make up for eventually. The Spanish are playing the same game, using pension funds. I suspect it's happening just about everywhere, it's even being legislated at the European level IIRC: pensions are being clearly sacrificed for the greater good in this crisis.

Excellent just creating an even bigger problem......

So what rate of return do these pensions funds now need to make up for the shortfall over the current years assuming fantasy economics can continue.

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The Irish government got the pension funds to buy sovereign and bank bonds... I just read the funds show a negative 2% return as opposed to a +6-8% required return, a deficit the Irish government will have to make up for eventually. The Spanish are playing the same game, using pension funds. I suspect it's happening just about everywhere, it's even being legislated at the European level IIRC: pensions are being clearly sacrificed for the greater good in this crisis.

Exactly who else did you think was buying all this crap?

Of course it was the f**king pension funds.

The only people who would buy that sort of crap would be people using vast amounts of someone elses money getting paid bonuses for short term profits with no-comeback for losses. The only people doing that were pension fund managers.

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  • 146 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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