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Portugal And Ireland To Be Given More Bailout Repayment Time

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Portugal and Ireland are to be granted an extra seven years to pay back their emergency bailout loans.

The European Union and the IMF bailed out the Republic of Ireland in 2010 and Portugal in 2011.

The 17-member group that uses the euro currency agreed to the terms at a meeting of finance ministers in Dublin.

Meanwhile, the ministers also said a 10bn euro ($13bn; £8.5bn) EU bailout loan for Cyprus was ready for approval by member states.

Loans perpetually rolling over what could possible go wrong...

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The extension is needed, the banks here have started repossessing the 100k or so people who are a year or two underwater on their mortgage payments.

My guess is that the banks will need to be recapitalized again this year, most likely quietly via the back door.

My second guess is that the lending criteria here is being lowered from an extremely tight criteria to a much more relaxed outlook. The reason I guess this is that if they ramp up lending then prices will not collapse further than the 50% they have already fallen + an anecdotal that the mortgage application I started in December has magically been fast-tracked through this week.

The outlook here IMO is still better than the UK with it's aging culture-less population, sense of self entitlement and dangerously overpriced and decrepit housing stock.

The only thing that I am a tiny be jealous of the UK for is the closer transport links to Europe.

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The Euro is only kept alive by the politicians....

IMO the whole situation is false and engineered.

The currency is engineered,

The lack of printing is engineered,

The regular crisis are engineered,

Why? To scare the sheeple and investors into parting with their money.

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  • 242 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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