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E U To Extend Greece And Irelands Debt To 30 Years

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http://uk.finance.yahoo.com/news/EU-extend-Greek-Irish-reuters_molt-1660788862.html?x=0

17:31, Friday 28 January 2011
DAVOS, Switzerland (Reuters) - European Union officials are considering extending euro zone bailout loans to Greece and Ireland (Berlin: IIK.BE - news) to 30 years in a bid to draw a line under the bloc's debt crisis, two euro zone sources said Friday.
The sources said European Central Bank Governing Council member Axel Weber, head of Germany's influential Bundesbank, had suggested stretching out the maturities from three years for Greece and seven for Ireland as part of a comprehensive package to overcome the crisis.

Can't afford you lifestyle Seamus and Stavros? No worries, let us just restructure your debt over 30 years. :lol:

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So they just keep rewriting the rules, first the bailout is just over 5-7 years now all of a sudden it's been extended to over 30 years.

Extend and pretend.

The game plan is to try and hope this blows up years down the line when it can be someone else's problem.

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http://uk.finance.yahoo.com/news/EU-extend-Greek-Irish-reuters_molt-1660788862.html?x=0

17:31, Friday 28 January 2011
DAVOS, Switzerland (Reuters) - European Union officials are considering extending euro zone bailout loans to Greece and Ireland (Berlin: IIK.BE - news) to 30 years in a bid to draw a line under the bloc's debt crisis, two euro zone sources said Friday.
The sources said European Central Bank Governing Council member Axel Weber, head of Germany's influential Bundesbank, had suggested stretching out the maturities from three years for Greece and seven for Ireland as part of a comprehensive package to overcome the crisis.

Can't afford you lifestyle Seamus and Stavros? No worries, let us just restructure your debt over 30 years. :lol:

When the debt just keeps increasing will they then give them 50 years, or 100?

Amazing.

I spoke to a bloke in UBS today, he discussed a mortgage in which I am only obliged to pay back 15 % of the overall total (though I do have to pony up 20%)

What would I do, pass the debt to my children? How nice for them.

I suppose this kind of arrangement is merely a domesticised version of the one between Greece and Germany.

Can't afford the BMWs? Don't worry, just sign here, and put your babies thumbprint here....

Edited by swissy_fit

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So they just keep rewriting the rules, first the bailout is just over 5-7 years now all of a sudden it's been extended to over 30 years.

Extend and pretend.

The game plan is to try and hope this blows up years down the line when it can be someone else's problem.

Maybe they should try using a debt ceiling :ph34r:

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So they just keep rewriting the rules, first the bailout is just over 5-7 years now all of a sudden it's been extended to over 30 years.

Extend and pretend.

The game plan is to try and hope this blows up years down the line when it can be someone else's problem.

Do you think we should join the Euro now so we can also keep pushing our debts into the future?

If they group together to delay theirs and we are left on our own....

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Do you think we should join the Euro now so we can also keep pushing our debts into the future?

If they group together to delay theirs and we are left on our own....

No because if we join how can be play debt musical chairs? If everyone has the same currency the insanity won't work, if we have different currencies we can fool everyone into buying each others crap.

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Bank: We have 2 trillion of debt.

Me: And our assets?

Bank we own 10m houses worth an average of £200k = £2trn of debt.

Me: Yeah but thats assuming they are worth £200k each om the open market - almost 10x take home pay.

Banks: what are you saying? Theyre worth less? How utterly dare you?!

Me: I can see how when you have £2trn of debt you can value anything for anything and pass Basal II

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Can't afford you lifestyle Seamus and Stavros? No worries, let us just restructure your debt over 30 years. :lol:

It doesnt matter who can afford what its whose paying for it that counts.

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European Union officials are considering extending euro zone bailout loans to Greece and Ireland (Berlin: IIK.BE - news) to 30 years in a bid to draw a line under the bloc's debt crisis, two euro zone sources said Friday.

They will do anything to save their precious ******* Euro. :rolleyes:

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This sort of extend and pretend policy is happening quite a lot in these times. If it does happen then we should not forget the money that the UK promised to Ireland and the promises that were made by the Chancellor about us geeting it back. I guess the fact that this is even being discussed speaks for itself as in the true state of Ireland's financial position.

I remember seeing a letter to the London Evening Standard by an economist who questioned this and when I looked into it further he had said this.

I wish to make it clear that I wish Ireland the best in difficult times but in my opinion the Euro zone should solve its own problems. Back in 1992 when the UK was in trouble nobody helped us. Also as time goes forwards I suspect there will be other calls for money/aid from Euro zone countries with Portugal and possibly Spain leading the list and if we start now with Ireland we have to realise there will be other calls too.Accordingly I believe that our government should be very circumspect before offering help as it is unlikely to be the last call and may not even be the last call from Ireland and there is a danger of us getting on a treadmill we cannot get off. As an example I believe the “temporary” help provided to Greece has now become effectively permanent.

It looks like that he was on the ball and rather prescient... We are unlikely to be getting this money back for years and years if at all.

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  • 284 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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