So there you have it, the good old Irish Government who is already borrowing €400 million a week just to keep the country going, is putting through legislation to introduce a new government agency call NAMA (national assets management agency) and will buy with the tax payer’s money €54 Billion of bad dept from our failing banks who gambled away this country’s prosperity.
On top of that they will need to inject a further undisclosed number of €billion to recapitalize the banks¦ again.
Remember, that Ireland has a population of 4 million people, our great great grandchildren will be paying off this debt.
And who has been held accountable??? NO ONE.
Not one of these thieves who engaged in these transactions which bankrupted our nation has been held accountable. This has to be the most corrupt government in Europe.
Irish Government buys €54 billion of debt from banks
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Oscar Namechange
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- Joined: Wed Jul 30, 2008 9:26 am
Irish Government buys €54 billion of debt from banks
mikeinie;1242869 wrote: So there you have it, the good old Irish Government who is already borrowing €400 million a week just to keep the country going, is putting through legislation to introduce a new government agency call NAMA (national assets management agency) and will buy with the tax payer’s money €54 Billion of bad dept from our failing banks who gambled away this country’s prosperity.
On top of that they will need to inject a further undisclosed number of €billion to recapitalize the banks¦ again.
Remember, that Ireland has a population of 4 million people, our great great grandchildren will be paying off this debt.
And who has been held accountable??? NO ONE.
Not one of these thieves who engaged in these transactions which bankrupted our nation has been held accountable. This has to be the most corrupt government in Europe.
I'm surprised at the descision to do this. At least GB nationalised some banks and got some of the money back also sacking the bank chiefs.
How's the health care issue going at the moment in Ireland?
On top of that they will need to inject a further undisclosed number of €billion to recapitalize the banks¦ again.
Remember, that Ireland has a population of 4 million people, our great great grandchildren will be paying off this debt.
And who has been held accountable??? NO ONE.
Not one of these thieves who engaged in these transactions which bankrupted our nation has been held accountable. This has to be the most corrupt government in Europe.
I'm surprised at the descision to do this. At least GB nationalised some banks and got some of the money back also sacking the bank chiefs.
How's the health care issue going at the moment in Ireland?
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
Irish Government buys €54 billion of debt from banks
oscar;1242923 wrote: I'm surprised at the descision to do this. At least GB nationalised some banks and got some of the money back also sacking the bank chiefs.
How's the health care issue going at the moment in Ireland?
You mean the health don't care issue?
They still don't care
How's the health care issue going at the moment in Ireland?
You mean the health don't care issue?
They still don't care
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Oscar Namechange
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Irish Government buys €54 billion of debt from banks
mikeinie;1242925 wrote: You mean the health don't care issue?
They still don't care
I google the Irish Times occassionally and see It's still a big issue over there. It's hard to believe that It is such a shambles in such an advanced and beautiful country.
They still don't care
I google the Irish Times occassionally and see It's still a big issue over there. It's hard to believe that It is such a shambles in such an advanced and beautiful country.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
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Clodhopper
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Irish Government buys €54 billion of debt from banks
I don't pretend to understand the numbers, but yours look scary. So do ours. Dunno which are worse. I imagine a good deal of this is a result of the EU grants ending recently?
The crowd: "Yes! We are all individuals!"
Lone voice: "I'm not."
Lone voice: "I'm not."
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Oscar Namechange
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Irish Government buys €54 billion of debt from banks
Clodhopper;1243126 wrote: I don't pretend to understand the numbers, but yours look scary. So do ours. Dunno which are worse. I imagine a good deal of this is a result of the EU grants ending recently?
The Irish economic situation makes GB look brilliant.
The Irish economic situation makes GB look brilliant.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
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Clodhopper
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- Joined: Mon Feb 25, 2008 5:11 pm
Irish Government buys €54 billion of debt from banks
The Irish economic situation makes GB look brilliant.
Oh God.
I know the Irish hate it, for understandable reasons, but we are linked. By blood, by economy. What's going to happen to Galbally? This is appalling news. Hang in there, Mike.
Oh God.
I know the Irish hate it, for understandable reasons, but we are linked. By blood, by economy. What's going to happen to Galbally? This is appalling news. Hang in there, Mike.
The crowd: "Yes! We are all individuals!"
Lone voice: "I'm not."
Lone voice: "I'm not."
Irish Government buys €54 billion of debt from banks
It has not got to do with the grants ending, it has to do with banks backing developers and lending out billions in loans for overvalued properties and everyone trying to get rich.
It is the government body ‘The Financial Regulator’ who turned a blind eye to banks and allowed them to borrow from larger economies to provide 100% mortgages with no realistic value of assets. Then the head of the Financial Regulator being given an ‘early retirement’ with a $600,000 pension and a bonus of €400,000.
It is the banking leaders such as Anglo Irish bank who prior to financial audits, asked for a favor from another Irish bank to transfer a couple of €billion into the bank to prop up its deposits to make it look good, then transfer the money back after the audit was over. The President of the bank, who also gave himself personal loans up to €80,000,000, undeclared. Who also gave multimillion € loans to a group of developers and other business partners interest free to buy share in the bank to prop up the share value in the bank. Oh, ya.. he has not been charged and is not in jail.
Heads of Government agencies and bankers giving themselves €multi-million bonuses and pensions to line their own pockets.
The entire ‘Celtic Tiger’ was based on borrowing and debt and not one person has been held accountable. Now the middle class tax payer has to carry the burden of debt, pay increased taxes and levies, and financially support a growing unemployment benefits payout.
And now this NAMA will get them all off the hook by transferring all their gambling debts over to the tax payer to take care of it for them.
Now the banks are saying that this will only cover the debt, but they will also need billions more for ‘recapitalization’. And in every bank, the same board of directors that got us into this situation are the same ones there now getting the bail out. Once again¦. No consequences and no accountability.
Our government is stupid enough then to scratch their heads and wonder why the country now hates them. :-5 :-5
It is the government body ‘The Financial Regulator’ who turned a blind eye to banks and allowed them to borrow from larger economies to provide 100% mortgages with no realistic value of assets. Then the head of the Financial Regulator being given an ‘early retirement’ with a $600,000 pension and a bonus of €400,000.
It is the banking leaders such as Anglo Irish bank who prior to financial audits, asked for a favor from another Irish bank to transfer a couple of €billion into the bank to prop up its deposits to make it look good, then transfer the money back after the audit was over. The President of the bank, who also gave himself personal loans up to €80,000,000, undeclared. Who also gave multimillion € loans to a group of developers and other business partners interest free to buy share in the bank to prop up the share value in the bank. Oh, ya.. he has not been charged and is not in jail.
Heads of Government agencies and bankers giving themselves €multi-million bonuses and pensions to line their own pockets.
The entire ‘Celtic Tiger’ was based on borrowing and debt and not one person has been held accountable. Now the middle class tax payer has to carry the burden of debt, pay increased taxes and levies, and financially support a growing unemployment benefits payout.
And now this NAMA will get them all off the hook by transferring all their gambling debts over to the tax payer to take care of it for them.
Now the banks are saying that this will only cover the debt, but they will also need billions more for ‘recapitalization’. And in every bank, the same board of directors that got us into this situation are the same ones there now getting the bail out. Once again¦. No consequences and no accountability.
Our government is stupid enough then to scratch their heads and wonder why the country now hates them. :-5 :-5