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Irish bailout $112.53 billion

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monstertruck:
http://www.marketwatch.com/story/ireland-bailout-deal-near-reports-2010-11-28

What a brilliant idea.
Borrow more money in an attempt to solve the problem.

I think I just heard another domino fall. ;-()



Germany's gov is starting to catch on though. :))

'The size of the bailout package is staggering. The population of the Republic of Ireland is roughly 4.5 million. $112 billion USD across 4.5 million people works out to approximately $24,900 USD per person (or close to $100,000 USD per household of four persons).

To give this even greater perspective consider what a bailout package of $24,900 USD per person would look like for a country like the United States. Across 310 million people (ie, the US population) such a package would represent more than $7.5 trillion USD in loans. For further reference the total US National debt is presently around $13.8 trillion USD.

So, by agreeing to these bailouts the government of Ireland has essentially saddled their people with an ADDITIONAL debt load that (on a per capita basis) is equal to half the US National debt (on a per capita basis). It will take the people of Ireland generations to pay off this debt (if they ever do). The banks fronting these loans must be rubbing their hands with glee at prospect of all the money (interest) they will earn off the backs of the Irish.'

FedFanForever:
Monster - the eurosocialists are screaming bloody murder at the rich countries for not handing over everything. Just watch the Euro parliament sessions, it's a riot.

monstertruck:

--- Quote from: FedFanForever on November 28, 2010, 05:24:42 PM ---Monster - the eurosocialists are screaming bloody murder at the rich countries for not handing over everything. Just watch the Euro parliament sessions, it's a riot.

--- End quote ---
Hence Germany's proposal. :)

Imagine suggesting a $24k per person bailout here in the U.S.! :lol-cry:

Swish:

--- Quote from: monstertruck on November 29, 2010, 05:28:54 AM ---
--- Quote from: FedFanForever on November 28, 2010, 05:24:42 PM ---Monster - the eurosocialists are screaming bloody murder at the rich countries for not handing over everything. Just watch the Euro parliament sessions, it's a riot.

--- End quote ---
Hence Germany's proposal. :)

Imagine suggesting a $24k per person bailout here in the U.S.! :lol-cry:

--- End quote ---

Just send me the check and I'll do my part to stimulate the economy.

monstertruck:
Eyes are now on Portugal & Spain to come begging for handouts.

http://money.cnn.com/2010/11/26/news/international/spain_portugal_euro_bailout_worries/index.htm

Looks like there's a bit more 'redistribution of wealth' about to happen in The Socialist Block. ;-()

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