Ireland's External Debt $2.287 trillion

[TotalMayhem]

Aww sh*t!!!

I just had a look at an 'intelligence assessment' of Ireland, provided by some nice folks in Langley, VA (https://www.cia.gov/library/publications/the-world-factbook/geos/ei.html).

Ireland's external debt (as of September 2009) ammounts to the staggering sum of 2,287,000,000,000 US Dollar (yep, folks, that's trillions!).

According to these figures, every man, woman and child in Ireland owes more than US$ 513,000 which means the insterest to be paid now over US$ 25,000 per capita every year.

[Slim Buddha]

Impressive!

[TotalMayhem]

Impressive!

Lies, damn CIA lies!!!

[Captain Con O'Sullivan]

It doesn't matter now. Ireland borrowed beyond its ability to repay some time ago.

[wickedfairy]

remember that night on Vincent Brown, they were talking about billions, a couple of people on the panel werent sure how many millons were in a billion, happy days eh?:)

[TotalMayhem]

Just checked Spain's external debt: $2.41 trillion

How on earth did these people manage to get us 'where we are'???

And sure enough, we beat (http://www.politicalworld.org/showthread.php?t=5586) the Japanese ...

[whydontwe]

They managed because they were cute enough to throw a few crumbs to the plebs at the bottom of society...a few more crumbs to those in the middle...which allowed them to keep most of the loaf for themselves and their families and pals...isn't this a truth that we've avoided for generations?
Wealth provides only poverty...equality provides food water shelter and dignity for all....even now...are the Irish going to provide/demand equality for all...if it means they lose some or a lot of what they have?? Let's hope a new Ireland is being born....but ...remember...I'm an agnostic religiously...so...in the same vain....I'll believe it when I see it!!

[morticia]

It doesn't matter now. Ireland borrowed beyond its ability to repay some time ago.

I'd love to know how the CIA worked that one out, since figures from other sources (such as the NYT) are still in the high billions. If the Irish domestic banks total "assets" (loans) were around the 500 billion mark in 2007 (since shrunk owing to writeoffs, repayments and much reduced lending), and the Government now owes about 100bn, the other figure must relate to debts run up by hedge funds and foreign banks....not our responsibility I'm afraid. I'd imagine they've also included the debts of Irish subsidiaries of international companies; again, their debts will be paid off from abroad or from profits, so in actual fact, a much larger population base than our own will be paying this off. There's also the debts of companies such as Ryanair and CRH, whose profits etc are also derived from Europe (at least) and elsewhere, not just us. The fact that we are now the premier destination for FDI (lots of Googles doing lots of "double irish" tax manoevres) means that the figures for total debt are likely to be alarming. However, we're not responsible for the majority of it. I'd like to see similar figures for the likes of Singapore and Switzerland.... that might be a bit more revealing than comparisons with Spain etc.

Calm down people!

[Ah Well]

An impromptu "Reeling In the Years" for yiz folks

Irish Examiner 1st Jan 1998

IRELAND is as much in debt as ever before, despite the unprecedented economic boom of the Celtic Tiger.

While economic commentators boasted of the Irish economic success of recent years, the country's debts grew by £400m to a massive £32bn last year — representing borrowings of £9,000 for every New Year baby born last night, and every man, woman and child in the State.

The figures were revealed last night by the National Treasury Management Agency, the organisation that manages the national debt mountain.

Ireland's total national debt may have grown, but yet another big increase in the size of the national income cake means that the real burden of the country's borrowings has been eased yet again.

It is not that our debts have fallen. It's just that we have been getting richer so paying them off in instalments is getting easier and easier.


Whoopedy-doo .... we ain't "rich" no more (well most of us anyhoo) .. and we'll CERTAINLY be paying in instalments if at all ... and our kids... and prob theirs ... and .................................................. ...

[TotalMayhem]

It's just that we have been getting richer so paying them off in instalments is getting easier and easier.

Priceless ... didn't know David Murphy was a 'Bullsh*t Editor' for RTÉ in 1998. :D

[Ah Well]

Priceless ... didn't know David Murphy was a 'Bullsh*t Editor' for RTÉ in 1998. :D

lol

The Article was by one Kyran Fitzgerald in the printed edition of the Irish Examiner of 1/1/98

JAYSUS .... TOTALLY off Thread but from the same period in time ... this is gas :D

THE arrival of a group of male strippers in a Galway village for a raunchy stage show has been labelled a disgrace and indicative of falling moral standards.

The tour by the Celtic Knights which involves five hunky males stripping during a 90-minute routine comes to the village of Monivea in two weeks time and is expected to attract a large women-only crowd.

During their routine, the Knights will rid themselves of their suits of armour in sketches such as Spanish Bondage, the Dungaree Dance, the Men in Black and their version of the Diet Coke break.

However, the arrival of the show in Galway venues has been condemned by Independent county councillor Joe Brennan who is well known for his stance on family values.

Cllr Brennan said that the acceptance of this show is indicative of the falling standards of morality in this country and he called for the Catholic Church to be more outspoken in its condemnation of such performances.

[TotalMayhem]

THE arrival of a group of male strippers in a Galway village for a raunchy stage show has been labelled a disgrace and indicative of falling moral standards.

That too sounds very familiar:

The arrival of the Fianna Fáil Parlamentary Party in a Galway hotel for a raunchy stage show has been labelled a disgrace and indicative of falling moral standards.

:D

[C. Flower]

I'd love to know how the CIA worked that one out, since figures from other sources (such as the NYT) are still in the high billions. If the Irish domestic banks total "assets" (loans) were around the 500 billion mark in 2007 (since shrunk owing to writeoffs, repayments and much reduced lending), and the Government now owes about 100bn, the other figure must relate to debts run up by hedge funds and foreign banks....not our responsibility I'm afraid. I'd imagine they've also included the debts of Irish subsidiaries of international companies; again, their debts will be paid off from abroad or from profits, so in actual fact, a much larger population base than our own will be paying this off. There's also the debts of companies such as Ryanair and CRH, whose profits etc are also derived from Europe (at least) and elsewhere, not just us. The fact that we are now the premier destination for FDI (lots of Googles doing lots of "double irish" tax manoevres) means that the figures for total debt are likely to be alarming. However, we're not responsible for the majority of it. I'd like to see similar figures for the likes of Singapore and Switzerland.... that might be a bit more revealing than comparisons with Spain etc.

Calm down people!

We are always told "Its the IFSC" about these figures. We need to find a disaggregated figure for personal debt. There have already been horrendous failures coming out of the IFSC, some involving Irish Board members with the most illustrious backgrounds.

The IFSC seems to be a pustulating boil on the back of a very sick EU Finance sector.