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Ireland Has Asked For More Time To Pay---Oh Oh

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http://uk.finance.yahoo.com/news/Irish-Labour-party-wants-EU-reuters_molt-1630305964.html?x=0

Padraic Halpin, 17:05, Sunday 30 January 2011
DUBLIN
(
Reuters
) - The European Union needs to seriously consider giving Ireland (Berlin: IIK.BE - news) an extra year, until 2016, to bring its budget deficit down to the EU limit of 3 percent of gross domestic product, Ireland Labour Party said on Sunday
.

Another year and another pile of debt will have been added. Ireland is a drowning man and the worse thing to do is add more coins in his wallett.

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Another year and another pile of debt will have been added. Ireland is a drowning man and the worse thing to do is add more coins in his wallett.

...probably looking at having a full term Parliament timeline......

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http://uk.finance.yahoo.com/news/Irish-Labour-party-wants-EU-reuters_molt-1630305964.html?x=0

Padraic Halpin, 17:05, Sunday 30 January 2011
DUBLIN
(
Reuters
) - The European Union needs to seriously consider giving Ireland (Berlin: IIK.BE - news) an extra year, until 2016, to bring its budget deficit down to the EU limit of 3 percent of gross domestic product, Ireland Labour Party said on Sunday
.

Another year and another pile of debt will have been added. Ireland is a drowning man and the worse thing to do is add more coins in his wallett.

For Ireland to start paying debts the deficit would need to be brought down below zero, to become negative. Otherwise the debt will never be paid off. But the IMF would probably be happy with that, in the same way that banks prefer debtors not to pay off the debt but to keep paying the interest. That is my understanding.

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For Ireland to start paying debts the deficit would need to be brought down below zero, to become negative. Otherwise the debt will never be paid off. But the IMF would probably be happy with that, in the same way that banks prefer debtors not to pay off the debt but to keep paying the interest. That is my understanding.

well yes, more interest payments = more GDP = RECOVERY!! :huh:

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I heard a program on R4 today that made me wonder - there seems to be a resurgence of farming, might ireland, instinctively, be seeking a food-surplus? If they default, isn't a seige mentality the required attitude?

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I heard a program on R4 today that made me wonder - there seems to be a resurgence of farming, might ireland, instinctively, be seeking a food-surplus? If they default, isn't a seige mentality the required attitude?

Pity those tractors run on imported diesel.

And the power plants that provide electricity (for the food factories and freezers) and household cookers... run on gas.

I keep saying this and no-one listens... if you default, you lose ALL your imports. Fuel. Medicine. Electronics. Food.

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Pity those tractors run on imported diesel.

And the power plants that provide electricity (for the food factories and freezers) and household cookers... run on gas.

I keep saying this and no-one listens... if you default, you lose ALL your imports. Fuel. Medicine. Electronics. Food.

Who would you rather trade with- a heavily indebted state on the point of civil unrest due to austerity measures being shoved down it's throat- or a debt free modern economy with an educated population and high tech industries?

It's by no means clear that default would be the disaster you predict. A debt free Ireland looks a far better trading partner than an Ireland drowning in unpayable debt.

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I keep saying this and no-one listens... if you default, you lose ALL your imports. Fuel. Medicine. Electronics. Food.

I was in Argentina a couple of years after their default, they didn't seem to be lacking imported goods (though they were expensive due (I think) to import tariffs)

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I was in Argentina a couple of years after their default, they didn't seem to be lacking imported goods (though they were expensive due (I think) to import tariffs)

Yes, it(default) enforces balanced trade/budgets pretty quickly. But it's not the EOTW disaster that the banking classes usually assume; I suspect a slight VI on their part (In the same way as your average doorstep lender has a slight VI on the subject)

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  • 276 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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